Oslo Stock Exchange-listed Archer, a company providing drilling and well services to the global energy industry, has entered into an agreement with Remold Invest AS to acquire 100 percent of the shares in the Norwegian based floating offshore wind solutions provider Moreld Ocean Wind AS (MOW), including a minority stake in US/French technology company Ocergy Inc (OCY).

MOW, with around 30 engineers based in Norway, delivers project management and engineering for fabrication and assembly of floating substructures for wind turbines.

The lightweight floating substructures, developed and designed by OCY, are suited for serial production as the modules are prefabricated and assembled in ports or yards close to where the wind farm will be operating.

MOW states that it is currently engaged with a number of studies, front-end projects, and engineering contracts on behalf of some of the world’s largest energy companies and has been down-selected as the preferred supplier by several wind farm developers for upcoming wind farm project bids.

MOW will be renamed to Archer Wind following the completion of the transaction.