Australian project firm Worley has today acquired compatriot Australia-based Ferrovial’s 50% shareholding of TW Power Services Pty Ltd (TWPS), increasing its stake to 100%. The move is said to boost Worley’s operations and maintenance (O&M) provision for critical infrastructure projects across Australia, New Zealand and South East Asia.
Worley established TWPS as a joint venture in 2004. With over 700 employees, TWPS is the largest independent operations and maintenance service provider in the Australian power sector, with contracts to operate and maintain 12GW+ of diverse power technology facilities, including power stations fuelled by renewable energy sources and gas pipeline assets.
The acquisition will bolster Worley’s existing global power business, adding to the group’s already established O&M activities, which currently service over A$100 billion of critical infrastructure assets in Australia alone.
Worley’s CEO, Chris Ashton, said: “We’re excited by the opportunities that will result from bringing TWPS into the Worley Group. This acquisition will accelerate the role we play in supporting our customers through the energy transition and digitalization of our industry, while enhancing our global operations and maintenance capability.”
Worley’s Regional Managing Director, Australia & New Zealand, Gillian Cagney, said: “Through the commitment of an outstanding team, TWPS has become a leader in developing and applying digital technology to optimise and improve the effectiveness of O&M services for power generation in Asia Pacific.
“Having played a major role in the development of TWPS, our visions for the future are well aligned and the opportunities ahead will cement our combined position as a partner of choice for customers navigating energy transition and digital transformation challenges.”
Additional benefits of the acquisition include:
- Coupling TWPS’ onshore wind capability with Worley’s offshore wind capability – 3sun – to produce a service offering in the global independent power market;
- Leveraging TWPS’ leadership in the development and application of digital technology to O&M services across Worley’s global O&M business;
- Combining O&M experience with technical and delivery expertise enabling Worley to support customers across the full asset life cycle; and
- Global deployment of TWPS’ experience, systems and expertise across different power technologies.