(OE) Heavy Lift Projects Ltd (HLP), a provider of offshore wind farm logistics, said Tuesday it had completed a funding round with private investors and opened its first office in Edinburgh.
The company said that Capercaillie (Investments) Ltd and Giles W Pritchard-Gordon & Co Ltd have committed a “multi-million-pound” investment, which will be used to complete engineering work on its first project, a new design of a ring crane for assembling and loading offshore wind farm components.
HLP was founded in 2021 by Alexander Fyfe to “bring a fresh approach to offshore wind farm logistics at a time when the equipment and expertise needed to meet the boom in installation is being stretched by a lack of capacity.”
The company said Tuesday it was in advanced discussions with a number of major wind farm developers “looking to manage costs and maintain safety while enabling them to meet schedules for windfarm development and deployment.”
“HLP’s improvements will reduce crane mobilization time for component assembly and marshaling and include an overall component logistics solution to help ports keep pace with increased demand,” the company said.
“The offshore wind farm market is witnessing stellar growth but developers face challenges, requiring more and larger crane capacity to meet projected demand, as well as cargo vessels and other support equipment,” said HLP Managing Director Alexander Fyfe. “Costs are rising, but the cost is not the biggest issue, rather it’s a shortage of the right installation equipment. HLP believes innovative thinking is needed to provide the new technology solutions that can enable growth to continue.”
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