Offshore wind assets change hands in major deal

Seaway7, part of the Subsea7 Group, has agreed to sell its Heavy Transport business to HEA Energy in a deal that raises questions about its future role in offshore wind construction.

The deal, announced on 5 November, covers six open-deck semi-submersible heavy-transport vessels used to move large offshore structures, including wind farm foundations, substations and other oversized project cargoes.

The fleet comprises five owned vessels and one chartered from a third party. Completion is expected in the first half of 2027, subject to regulatory approval. Financial terms have not been disclosed.

The move appears somewhat contradictory given Seaway7’s continued pursuit of major offshore wind contracts. Heavy transport is a fundamental part of the offshore wind supply chain, moving foundations and other substantial components from manufacturing facilities to offshore installation sites.

“Heavy transport is a segment we know well as a customer, one where demand is set to grow as offshore structures get larger and move further from shore,” said HEA Energy managing director Omar Elali.

“With this fleet, HEA Energy gains a global platform, a second line of business with its own contracted backlog and the ability to combine transport, installation and maintenance into a single offer for our clients. It is the next step in building HEA Energy into a diversified offshore services group.”

The disposal is linked to the proposed merger between Subsea7 and Italian engineering company Saipem. The companies signed a merger agreement in July 2025, proposing to combine as Saipem7, with forecast annual revenues of approximately €21 billion and an order backlog of around €43 billion.

Offshore wind commitments continue

Despite the sale, Seaway7 continues to pursue significant offshore wind opportunities. In January, it secured work at Germany’s Gennaker project involving the transport and installation of 63 monopiles and transition pieces.

On 20 October, SSE appointed Seaway7 preferred supplier for the engineering, procurement, construction and installation package at its 1.4GW Berwick Bank B project in Scotland. The proposed scope includes about 90 turbine foundations and subsea inter-array cables.

“We are proud to have been selected by SSE Renewables as the preferred supplier for Berwick Bank B and to continue a relationship that has successfully delivered major offshore wind projects including Beatrice, Seagreen and Dogger Bank,” said Seaway7 CEO Lloyd Duthie.

“This agreement reflects the benefits of our early engagement, strong collaboration between our organisations and the expertise of our teams in delivering the optimum solution for this complex offshore wind development.”

Seaway7 can undertake EPCI contracts using chartered or third-party vessels, rather than owning its own transport fleet. Nevertheless, the disposal of a substantial in-house heavy-transport capability while continuing to pursue projects dependent on moving enormous offshore components does appear to be a shift in its offshore wind operating model.