In this News Flash: Engineering firm PD&MS has been acquired by RSK, Total Energies takes full ownership of Total Eren, and opponents of offshore wind projects in New Jersey are suing Orsted over $1 billion in tax breaks.



Pardalote Consulting - https://www.pardaloteconsulting.comWind Power LAB - https://windpowerlab.comWeather Guard Lightning Tech - www.weatherguardwind.comIntelstor - https://www.intelstor.com











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News Flash - 30 July 2023



Allen Hall: I'm Allen Hall, President of Weather Guard Lightning Tech, and I'm here with the Vice President of North American Sales for Wind Power LAB, Joel Saxum and the founder and CEO of Intelstor Phil Totaro, and this is your News Flash, Aberdeen based engineering firm PD&MS has acquired, been acquired by RSK, a global leader in sustainable solutions, PD&MS has been operating since 2002 and expanded with Synergy Environ and Optimus joining in 2021 and 2022, respectively.



The company serves prominent names in the energy industry like Vattenfall and Seagreen Offshore Wind Project. This is a merger of engineering companies. It seems like every engineering company, is involved in any offshore or global business, right at the moment is trying to grab another engineering business to make themselves more powerful.



Phil Totaro: Yes. This makes two weeks in a row that we've been talking about this. But it's also interesting to note too, you know, how involved both companies are in,,insurance advisory as well. This was probably not necessarily highlighted in in. What they put out publicly, but they, both companies have actually done a lot with, UK insurance companies.



in particular in underwriters. So I, I think everybody that's involved in the offshore wind value chain just wants to understand what the emerging risks are, a lot better than, than what they currently do. So I think this, this makes sense and the consolidation is likely to continue.



Joel Saxum: To follow on with what Phil's saying there with the insurance industry is you have London.



The reason London has is making money and always has, it's a financial center right. it's like Singapore or, or New York. I mean, they, they produce things, but the really thing they produce is the movement of money. So London as a financial center is also where the London markets are. All of the insurance companies are there, but you also have a lot of bankers there.



So if there's a, you know, and they, they drink beer at the same pubs. They hang out with the same people. So when you start listening to people, Oh, well there's, there's some financial companies here. There's, there's quite, to be honest with you, there's quite a bit of dry powder sitting around in London that is looking at investing in, in renewables because they see it as the future, right?



You always follow the money. I. Um, so those, those same circles playing together, if you can see, hey, we should tie this person up or tie these people up, um, that's how they're creating these monster engineering groups and they're gonna, this, this is gonna continue to happen. Total 



Allen Hall: Energies has acquired full ownership of renewable energies, company total.



EEN increasing the state from approximately 30% to 100%. The acquisition evolves a net investment around 1.5 billion euros for total energies. Total EEN has about three and a half gigawatts of renewable capacity and operation worldwide. What the pipeline of over 10 gigawatts of projects in 30 countries.



Joel Saxum:, I think it's a smart move by Total, Total,