Seatrium Limited has announced the sale of its AmFELS Yard in Brownsville, Texas, to Karpower Valley LLC, an affiliate of Karpowership, for S$65 million. The divestment, executed through subsidiary Seatrium AmFELS, Inc., is part of the company’s strategy to streamline operations, boost capital efficiency, and unlock value from surplus assets.
“By uniting our world-class offshore engineering expertise with Karpowership’s pioneering energy solutions, we are advancing the development and deployment of rapid, reliable, and flexible power solutions to meet growing global energy demands, said Chris Ong, Chief Executive Officer of Seatrium.