Keppel Corp is tipped to win fresh orders in the burgeoning offshore wind sector.
OCBC Investment Research says the yard is poised to cash in on rising demand for vessels for the renewable offshore energy sector.
Analysts at the Singapore-based bank note that green energy ventures in the US are turning to the offshore industry for the expertise needed to execute major marine projects.
In a note to investors OCBC says: “This has resulted in opportunities for yards such as Keppel Corporation (KEP) which has a significant presence in the US Gulf coast.  
“Keppel first entered the offshore wind energy sector in 2010 when its Netherlands subsidiary Keppel Verolme won a contract to build an electrical transformer and maintenance platform for a German offshore wind farm.
“Since then it has constructed a wind turbine installation vessel of its own design that has practical advantages over existing vessels in the market. The unit secured its first contract last year. “
OCBC points out that Keppel plans to splash SGD $61m ($48m) on a 49.9% stake in OWEC Tower, a company with a track record of having its jacket foundation design installed for offshore wind farms.
The move will allow Keppel to develop its business in the design and construction of offshore wind turbine foundations as well as installation and support vessels.