ABERDEEN-BASED Subocean revealed yesterday that it had landed renewable-energy contracts worth more than £100million in 2008.
The firm said this made it one of the largest providers to the marine renewables sector in Scotland.
Subocean also said the contract awards showed it had successfully transferred its oil and gas and subsea construction expertise into the offshore renewables market.
The company, which formed in 2005, now employs 120 people with annual turnover of £35million; 75% of this from the fast-growing renewable-energy sector.
Operations director Mike Daniel said: “Subocean’s contract awards and investment profile for 2008 are evidence that the marine renewables market is finally coming of age and we are well positioned for further global growth in this sector.
“To date, Subocean has only been addressing the UK renewable market requirements but we see an even bigger opportunity to capture a significant share of business outwith the UK from 2011 when other European governments set their own renewable targets for 2020.”
Subocean has already secured £75million worth of renewable energy work for this year and contracts totalling £50million are confirmed for 2010.