Ramboll acquires K2 Management to strengthen global Wind division
The acquisition adds close to 200 experts to Ramboll’s successful Wind division, significantly bolstering the company’s strategic advisory and project development capabilities. The expansion thus strengthens Ramboll’s ability to support clients throughout all stages of wind energy projects around the world.
COPENHAGEN, Denmark, Aug. 21, 2024 (GLOBE NEWSWIRE) — Today, Ramboll announced the acquisition of K2 Management, a global consultancy company specialising in wind and solar energy. The acquisition strengthens Ramboll’s ability to provide services to clients worldwide across all stages of wind energy projects by combining Ramboll’s extensive experience in design and execution of wind projects with K2 Management’s proficiency in strategic advisory and project development.
Following the acquisition, Ramboll’s global Wind division encompass over 900 dedicated experts across 20 countries, adding now also new local presences in Vietnam, Thailand, Taiwan, and Portugal. With the new setup, Ramboll is making significant progress towards its target of expanding its global wind business to over 1,000 experts by 2025 in response to the growing demand on the global wind market.
“We are very excited to be welcoming K2 Management’s experts to Ramboll. Wind energy is one of the main enablers of the green energy transition and as the Partner for Sustainable Change with more than 30 years of experience in the industry, Ramboll is committed to playing a pivotal role in the advancement of the wind sector worldwide. Right along COP28’s initiative ‘Double Down, Triple Up, Time4Action’, we are now ramping up our capacity and broadening our expertise to meet the demands of our clients worldwide,” says Tim Fischer, Director for Ramboll’s global Wind division.
Over the last three years, Ramboll successfully developed the Wind business from a primary foundation designer to a full-service wind consultancy combining advisory and engineering services. During that period, the division has been growing annually by approx. 25% and significantly expanded its global footprint, opening offices in the US, Poland, Spain, the Netherlands, Japan, Korea, and Australia.
“By merging Ramboll’s decade-long engineering and design skills in wind projects with K2 Management’s leading role in project development and strategic advisory, our clear ambition is to create a true global leader that is well-positioned to support our clients in all phases of wind energy projects globally. It is no secret that talent is scarce in these highly specialised areas, which is why welcoming such a great team of experts to Ramboll all at once is a major milestone. Together, we will take the next big leap in the green energy transition, supporting clients all over the world,” Tim Fischer says.
For Lars K Hammershøj, co-founder of K2 Management, the acquisition also brings great opportunities to the company.
“With offices on five continents, K2 Management already operates a cross-border approach to cater to the global need for high-end advisory to developers, lenders and investors in green energy. By joining Ramboll, we will deliver more innovative, holistic, and sustainable solutions. We can also provide even greater career opportunities for our talented employees. I am confident that our similar mission, purpose, and culture, driven by our shared passion and high standards, will enable a smooth integration of our teams,” he says.
Wind energy is key for reaching net-zero targets globally and the global wind energy market is expanding at a rapid speed. In 2023, a record-high 117 GW of new wind power was installed worldwide. According to the Global Wind Energy Council (GWEC), wind growth needs to rapidly accelerate, with annual wind installations roughly tripling to at least 320 GW over the course of the decade to meet the COP28 target of tripling renewable energy capacity and steering us back on to the 1.5-degree pathway. By 2050, more than 5,000 GW wind capacity is needed to deliver net-zero emissions globally.
The closing of the transaction is subject to customary regulatory approval.
About Ramboll
Ramboll is a global architecture, engineering and consultancy company founded in Denmark in 1945. Ramboll’s more than 18,000 employees create sustainable solutions across Buildings, Transport, Architecture & Landscape, Water, Environment & Health, Energy and Management Consulting. Across the world, Ramboll combines local experience with a global knowledgebase to create sustainable cities and societies.
With more than 30 years of experience in the global wind industry, Ramboll has been involved in more than 60% of all operating offshore wind farms globally. Similarly, Ramboll has provided expert services to onshore wind farms with a nominal output of +60,000 MW in more than 60 countries. In solar PV energy, Ramboll has contributed to the success of more than 500 projects across 25 countries.
Ramboll’s Wind division has experienced an annual growth rate of around 25% each year for the past three years. During that period, Ramboll established presences in the US, Spain, the Netherlands, Poland, Japan, Korea, Australia – adding to Ramboll’s existing offices in Denmark, Sweden, the UK, Germany, and India.
About K2 Management
As one of the first consultancies of its kind, K2 Management was founded in 2007 in Aarhus, Denmark with the goal of delivering independent technical advice to the energy sector. Already in 2010, a surge of contract wins saw K2 Management expand from its native Denmark to open offices in Germany, the United Kingdom, and the United States. Three years later the company expanded further into Brazil, Taiwan, South Korea, and South Africa, bringing the total number of offices to eight in just six years of operation. In 2024, K2 Management now has offices in 12 different countries and its services cover the entire energy project lifecycle from pre-development to construction and operation as well as Due Diligence advisory to lenders and investors. The technical advice covers a wide range of professional expertise within procurement, contract handling, engineering, project management, HSEQ, risk management, and O&M.
Now globally recognised for high quality advisory services, K2 Management is ready for the next growth journey backed by a scalable platform and a solid track record of more than 3,000 successful projects within renewable energy, all relying on local knowledge and international expertise.
Contact information:
Megan Yocum
megan.yocum@buchananpr.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cc1e4c8e-0da3-4701-a8c0-c321fe479f8c
