Aker Offshore Wind further increases stake in Principle Power

Norway’s Aker Offshore Wind has further increased its ownership in offshore floating wind company Principle Power from around 39% to 47%.

Aker, via subsidiary Vestavindar Offshore Wind, signed a binding share purchase agreement for around 8% of Principle Power which will be funded by Aker Offshore Wind’s existing financial resources.

Last month, Aker exercised an option to increase its shareholding in Principle Power from 20% to 39%.

“Principle Power is the leading technology player in the floating wind industry, and we look forward to taking an even more active ownership role and continue the work to drive down cost and accelerate the deep water wind industry together with the company and the other shareholders,” says Astrid Skarheim Onsum, chief executive officer of Aker Offshore Wind.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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