Danish engineering, architecture and consultancy company Ramboll unveiled a second investment within a week to bolster its capabilities in renewables, acquiring K2 Management, a local peer specialised in wind and solar energy. This strategic move solidifies Ramboll's position as a leading player in the green energy transition by expanding its global footprint and bolstering its expertise in both wind and solar energy consulting.
Founded in 2007, K2 Management has worked on notable projects such as the Deutsche Bucht offshore wind farm in the German North Sea and the first foreign-owned wind farm in Vietnam, Dam Nai. The acquisition adds close to 200 experts to Ramboll’s wind division, which will now have over 900 dedicated experts across 20 countries, as well as new local presences in Vietnam, Thailand, Taiwan and Portugal. The deal allows the Danish firm to support clients throughout all stages of wind energy projects, it said in a press statement on Wednesday.
The acquisition of K2 Management marks a significant step in Ramboll's ongoing pursuit of growth in the wind sector. Over the last three years, Ramboll has successfully developed its wind business from a primary foundation designer to a full-service wind consultancy, growing the division by about 25% annually. The company seeks to build a team of over 1,000 experts by 2025 to meet the growing demand in the global wind market. This ambitious goal reflects the rapidly expanding global wind energy market, which saw a record-high 117 GW of new wind power installed worldwide in 2023.
A Key Player in the Green Energy Transition
The Global Wind Energy Council (GWEC) emphasizes the need for accelerated growth in the wind energy sector. The council advocates for tripling annual wind installations to at least 320 GW over the decade to meet the COP28 target of tripling renewable energy capacity and steering us back onto the 1.5-degree pathway. By 2050, more than 5,000 GW of wind capacity is needed to deliver net-zero emissions globally. In this context, Ramboll's acquisition of K2 Management positions it as a key player in the green energy transition, demonstrating its commitment to supporting clients in achieving their renewable energy goals.
A Strategic Move for Ramboll
K2 Management represents the latest inorganic growth investment announced by Ramboll this year. Last week, the Nordic company acquired Wandschneider + Gutjahr Ingenieurgesellschaft mbH (W+G), a German consultancy focused on waste-to-energy engineering that has carried out more than 200 projects from concept to commissioning. This series of acquisitions highlights Ramboll's strategy of expanding its expertise and capabilities in the renewable energy sector to address the growing demand for sustainable solutions globally.
A Powerful Combination
The acquisition of K2 Management adds to Ramboll's already extensive experience in design and execution of wind projects. By combining Ramboll's expertise with K2 Management's proficiency in strategic advisory and project development, Ramboll will be able to provide comprehensive services to clients across all stages of wind energy projects. This powerful combination will enable Ramboll to offer innovative, holistic, and sustainable solutions to its clients, helping them navigate the complexities of the green energy transition.
The Future of Wind Energy
The wind energy sector is poised for significant growth in the coming years. As the world transitions to a more sustainable future, wind energy will play a critical role in meeting our energy needs. Ramboll's acquisition of K2 Management signals the company's commitment to supporting this growth and contributing to a cleaner, greener future for all. The integration of K2 Management's expertise into Ramboll's existing wind division will further strengthen the company's position as a leading provider of wind energy services worldwide. With its expanded expertise and global reach, Ramboll is well-positioned to help its clients achieve their renewable energy goals and contribute to a more sustainable future.
