INTEGRATED WIND SOLUTIONS AS

What INTEGRATED WIND SOLUTIONS AS does

Integrated Wind Solutions ASA (OSE: IWS) is a Norway-based, Oslo-listed offshore wind service company operating through two business segments. IWS Fleet AS owns and operates purpose-built Skywalker-class Walk-to-Work Commissioning Service Operation Vessels (CSOVs) — a six-vessel fleet delivered between 2023 and 2025, designed by Kongsberg Maritime with a battery-biased plug-in hybrid DC-grid system, 2.2 MWh batteries, solar panels, novel hull and propulsion layout, and DNV SILENT notation. IWS Services A/S delivers Balance of Plant (BoP) maintenance, engineering, project management, and consultancy services to the offshore wind supply chain through majority-owned subsidiaries ProCon Wind Energy (75%, electrical/technical solutions, Aalborg HQ), Green Ducklings (97%, consultancy), and a 49% stake in PEAK Wind (operations and asset management, presence in Denmark, Germany, Spain, UK, USA, and Taiwan).

The company generates revenue from multi-year vessel charter contracts with offshore wind developers, turbine OEMs, and transmission system operators, supplemented by professional services revenue from BoP work, electrical engineering, and consultancy. Pricing is quote-based and not publicly disclosed; vessels are built at China Merchants Heavy Industry (CMHI) Haimen at a firm yard price of approximately EUR 48 million per vessel, with ~50% of vessel value sourced from Norwegian export companies. The company was founded in July 2020 by Awilco AS (sponsored by the Awilhelmsen Group), listed on Euronext Growth in March 2021 (NOK 750M IPO), followed by two NOK 350M private placements in early 2022, an EUR 60M strategic equity investment from Sumitomo Corporation in May 2024, and an upscaled EUR 186.9M bank facility in September 2024. IWS uplisted to the Oslo Børs main market on 3 February 2025.

Anchor customers include Dogger Bank Wind Farm (SSE/Equinor/ENI; 331-day firm charter for phase C from 2025), Siemens Gamesa (three-year frame term agreement for walk-to-work turbine commissioning starting 2025), and TenneT TSO B.V. (Dutch offshore substation maintenance). IWS Fleet also runs a technical-management JV with Havfram Wind covering two Wind Turbine Installation Vessels scheduled for 2025 delivery. Approximate headcount of 11-50, with offices in Oslo (HQ), Aalborg, and Denmark.

Name

INTEGRATED WIND SOLUTIONS AS

Legal name

Integrated Wind Solutions ASA

Website

https://integratedwind.com

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Integrated Wind Solutions ASA is a Norway-based, Oslo-listed offshore wind services company operating a six-vessel Skywalker-class CSOV fleet through IWS Fleet AS and one-stop BoP and consultancy services through IWS Services, serving wind developers, turbine OEMs, and transmission operators primarily in Europe.

Ownership category

akta.pro rank

Product category

Offshore Wind Services

akta.pro primary industry

Wind Operations, Maintenance & Asset Management (Scheduled/Unscheduled) (EUAMACAH)

akta.pro secondary industries

Wind Turbine Installation & Commissioning (Cranes, Vessels, Jack-ups) (EUAMACAG), Wind Balance-of-Plant EPC (Crane Pads, Turbine Foundations, Internal Roads) (EUAEADAI)

Keywords

• Offshore wind services
• CSOV operations
• Walk-to-work vessels
• Wind farm maintenance
• Vessel chartering

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales, Others

Revenue model

1. Vessel Charter Contracts: IWS Fleet AS owns and operates Commissioning Service Operation Vessels (CSOVs) and Service Operation Vessels (SOVs) that are chartered to offshore wind developers and operators. Vessels provide walk-to-work services during commissioning and operations/maintenance phases of wind farms. Charter contracts include firm durations (e.g., 331 days) with commencement dates typically 2-3 years out.
2. Offshore Wind Services: IWS Services provides comprehensive maintenance solutions, engineering, project management, construction, and consultancy services for offshore wind facilities through its subsidiaries (ProCon, Green Ducklings) and investment in PEAK Wind. Services include Balance of Plant (BoP) OSS Services, Above Water Line Services, Below Water Line Services, foundation outfitting, and localized solutions.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Integrated Wind Solutions AS owns and operates a fleet of purpose-built Skywalker-class Commissioning Service Operation Vessels (CSOVs) and delivers integrated offshore wind maintenance solutions including engineering, project management, balance-of-plant services, and consultancy through its subsidiaries Green Ducklings and ProCon Wind Energy. The company is headquartered in Oslo, Norway, and also holds a 49% stake in PEAK Wind, expanding its reach into wind energy software and control systems.

Product overview

Integrated Wind Solutions ASA operates as an integrated offshore wind service company with two core business segments: IWS Fleet AS (owner and operator of purpose-built Walk-to-Work CSOV/SOV vessels in the Skywalker class, offering zero-emission hybrid-powered operations) and IWS Services AS (provider of one-stop maintenance solutions spanning Balance of Plant above-water, below-water, and OSS services, delivered through subsidiaries ProCon and Green Ducklings, with a 49% stake in PEAK Wind for asset management). The company listed on Oslo Børs (main market, February 2025) and is backed by the Awilhelmsen Group.

Differentiator

Problem solved

Functional benefit

Products and services

• Skywalker-class CSOV Fleet (IWS Fleet AS)

Quantifiable outcome

• 1,300+ tonnes CO2 equivalents reduced per vessel annually
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Five partnerships are on record, tiered core and strategic.

• China Merchants Heavy Industry (CMHI)coreTechnology or IntegrationShipbuilding partner for Skywalker class CSOV vessels. Vessels #1 and #2 ordered at CMHI Haimen shipyard, with additional vessels #3-#6 also ordered from CMHI. Firm yard price approximately EUR 48 million per vessel. Approximately 50% of vessel value relates to Norwegian export companies providing advanced technology.
• Kongsberg MaritimecoreTechnology or IntegrationVessel design partner for Skywalker class CSOVs. Kongsberg designed the novel hull and propulsion system, and provides the Kongsberg DP dynamic positioning system and Kongsberg IAS automation system that are preferred for vessel operations.
• MacGregorcoreTechnology or IntegrationEquipment supplier for fully compensated gangway and crane systems. MacGregor provides the 3D compensated knuckle-boom crane and motion compensated gangway essential for walk-to-work operations.
• Havfram WindstrategicStrategic or Co-development PartnerStrategic joint venture through IWS Fleet for technical management of Havfram Wind's two Wind Turbine Installation Vessels (WTIVs), scheduled for delivery in 2025. This extends IWS Fleet's technical management capabilities.
• Peak WindcoreStrategic or Co-development PartnerIWS increased ownership in PEAK Wind from 30% to 49% in September 2024. PEAK Wind is an independent advisory, consultancy, data intelligence and wind farm operator firm with approximately 200 specialized employees, operating in Denmark, Germany, Spain, UK, USA, and Taiwan.

Scale indicators11 records

Recent moves11 records

Expansion highlights7 records

Regional players

• BOURBON Offshore: French offshore vessel operator with growing exposure to offshore wind SOV/CSOV markets. Comparable in vessel services but with a more diversified oil & gas heritage and different geographic focus.

Direct peers

• Edda Wind ASA: Norwegian offshore wind CSOV/SOV operator with a growing newbuild fleet serving European wind developers. Closest direct peer to IWS Fleet in vessel type, customer base (Dogger Bank, Equinor, etc.), and listing on Oslo Børs.
• North Star Renewables: UK-headquartered operator of SOVs/CSOVs purpose-built for the offshore wind market, including hybrid-powered vessels. Directly comparable in service offering, target customers (UK/European wind developers), and walk-to-work operations.
• ESVAGT A/S: Danish provider of SOV and CSOV services to the European offshore wind industry, including hybrid vessel designs. Comparable in vessel operations, customer segments, and Danish operational base overlapping with IWS Services.
• Cadeler A/S: Danish-listed offshore wind installation and transport company operating both WTIVs and CSOV/SOVs. Competes with IWS in vessel chartering for European offshore wind projects and shares the Oslo-listed peer universe.
• Vroon Offshore Wind: Dutch offshore vessel operator with a dedicated offshore wind division providing SOV/CSOV services. Comparable in vessel operations, North Sea customer base, and hybrid-propulsion vessel investments.
• Havfram Wind: Norwegian offshore wind company operating WTIVs and exploring SOV services; IWS's strategic JV partner for technical management of Havfram's two WTIVs. Overlaps with IWS in offshore wind vessel operations and Norwegian ownership.

Emerging players

• Siem Offshore Contractors: Norwegian offshore vessel operator with SOVs and subsea/construction vessels serving offshore wind and oil & gas. Partial overlap in offshore wind vessel services but with a broader, more diversified fleet.

Broad incumbents

• Van Oord Offshore Wind: Major Dutch marine contractor providing transport, installation, and Balance of Plant services for offshore wind farms. Comparable to IWS Services' BoP offering, with broader scope including cable laying and foundation installation.
• Ørsted A/S: Global offshore wind developer and the largest by installed capacity. Not a direct vessel competitor but the principal customer category IWS serves; included as a benchmark for end-market demand and charter pricing dynamics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/integrated-wind-solutions-as

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about INTEGRATED WIND SOLUTIONS AS