Awilco-backed shipowner Integrated Wind Solutions (IWS) has boosted its stake in Danish operation Peak Wind Group.
The Oslo-listed company said it exercised a fixed-price option to buy more shares in the consultancy and asset manager for DKK 66.5m ($9.8m).
ISW originally acquired a 30% slice in Peak Wind in 2021, and has now added 19% to reach 49%.
The transaction will be settled using cash held by IWS.
“We expect the transaction to be completed in September 2024,” the company said.
Peak Wind is a leading independent renewable-energy specialist delivering consultancy, intelligence and asset management services globally.
It was founded by a trio of Danish entrepreneurs in 2017.
Last month, IWS said it had lined up debt financing for its new offshore wind ships.
The company revealed the IWS Fleet shipowning subsidiary has secured credit approval for an expanded green credit facility of up to €186.9m ($208m) covering its six commissioning service operation vessels, two of which are in operation.
The lender was not named.
The expanded facility is expected to become effective in the third quarter.
IWS had previously drawn down a third €31m tranche to finance the third ship in its fleet, due to begin operations in October.
