A NORWEGIAN power plant builder is offering North-East businesses the chance to bid for millions of pounds-worth of supply chain contracts.
Rainpower ASA, formerly part of the GE Group, has won orders to build hydroelectric power facilities in its homeland and in South America, and it needs North-East know-how to help deliver the contracts. The firm is keen to develop a network of reliable suppliers in this region, which it recognises as a centre of excellence for construction, with proven expertise in the renewable energy sector.
The industry along the west coast of Norway shares many of the features which are driving the North-East economy, with booming oil, gas, subsea and renewables sectors. Favourable exchange rates, and the economic benefits of doing business with a close neighbour, have also been key reasons why Rainpower regards the North-East as an ideal location to forge new, cost-effective business relationships. To help Rainpower meet its equipment needs, law firm, Dickinson Dees, the regions leading renewable energy specialist, is hosting a Meet the Buyer event where the Norwegian company will meet regional manufacturers of turbines, waterway equipment, generators and related components. About £20m-worth of business will be up for grabs at the session taking place in Newcastle on June 28. A similar event is taking place in Rotherham on the following day to enable specialist steel suppliers in Yorkshire to bid for work.
The events are being co-ordinated by Norway2UK whose managing director, Mike Pedersen explained why Rainpower was one of several Norwegian firms aiming to subcontract work to the UK.
"Like businesses all across Europe, Norwegian firms have looked towards places like China in recent years, to help grow their business and to develop supply chains. However, they are increasingly looking at the total cost of a building project throughout its lifetime, not just the headline figure. This includes things such as ongoing maintenance and site visits, so they are increasingly looking to build supplier networks closer to home.
"The exchange rate between the Krone and Sterling has improved in their favour too, so there are sound economic reasons behind their visit to the North-East. They also recognise that there is significant expertise in this region in things like precision engineering, which they want to tap in to," added Mr Pedersen. The event takes place at Dickinson Dees offices in St Ann's Wharf, 112 Quayside, Newcastle Upon Tyne, NE1 3DX. Seating and meetings times are limited and the policy is first come first served.
A full description of the event can be found at website: http://www.norway2uk.com/en/events/rainpower/ which also details the types of contracts which are on offer.
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