Reply To: AqualisBraemar LOC ASA

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Jørgen Astrup


Is not quite happy with the long credit times of Aqualisbraemar. It is almost the same as a free, interest-free loan. In fact, do not quite know if it practices differently in the 39 countries they are involved in.

AQUA will grow through OWC and LOC renewables. OWC is headquartered in London and they have done the most projects in Europe. OWC opened three new offices so far in 2020: Japan, Korea and Poland. LOC renewables had considerable growth in the Chinese and Vietnamese markets, having won most offshore wind projects in each country during 2020, including 8 contracts in China and 5 in Vietnam. I believe that AQUA will have continued growth in Europe. but the main growth will be new projects in Asia, mainly east Asia.

The company’s consultants are active before the bidding phase and help assess the quality of offshore wind locations. You point out Markus that in renewables it is project-based work. The main consultant hours in the AQUA are from what you would call “process-design” and coordination of the actual development- project. I do believe they will continue to grow strong because the demand for their service in renewables will be high going forward. This is my main reason for investing in AQUA, That “shovel to goldrush feeling”, at a cheap price.