The transaction, valued at £522 million, results in TotalEnergies retaining a 25.5% interest in Seagreen, with PTTEP securing the same percentage and SSE Renewables maintaining a 49% stake.

The collaboration expands on the existing partnership between the two companies, which involves the development of two floating offshore wind projects off the coasts of Brindisi, Apulia, and Bari, Puglia, in the Adriatic Sea.

The awarded projects involve the procurement, fabrication, coating, and testing of subsea structures for various developments located in the Gulf of Mexico.

The acquisition is expected to strengthen Ashtead's product and service offering in the oil and gas and offshore wind markets.

SEA-KIT International, a longstanding collaborator with Fugro, specializes in the development of uncrewed surface vessels (USV) for maritime operations and research aimed at reducing carbon emissions.

As floating wind farms are typically located farther offshore, in deeper waters, and harsher environments, a new and robust installation strategy is required.

The research projects aim to contribute to the effective integration of these vital sectors for achieving the UK's ambitious climate and energy goals.

The consortium has submitted its "Outline Business Case" to both the Scottish and UK Governments, a crucial step toward attaining freeport status.

Under the agreement, Vestas will supply 33 units of the V236-15.0 MW wind turbine, specifically designed for floating foundations.

Despite Europe's significant role in the wind power industry, the region's turbine producers have been grappling with operational losses, necessitating intervention to ensure the industry's sustained growth.