Renewable Services

Archer is committed to the energy transition and the path towards net zero carbon emissions. We continue to expand our service offering within energy transition as well as within renewable energy through key investments and strategic acquisitions. Our renewable services now encompass six core segments:

  • Geothermal drilling for electricity
  • District heating
  • Carbon storage
  • Floating offshore wind
  • Wind turbine services
  • Hydropower services

In 2022, Archer entered a new chapter in our energy transition strategy by acquiring 50% of Iceland Drilling Company Ltd. in a joint venture. Iceland Drilling is an international leader in high-temperature deep geothermal drilling and district heating with over seven decades of experience. With a team of close to 200 skilled professionals and an annual revenue of more than USD 50 million, Iceland Drilling offers a broad set of renewable service lines including deep drilling for electricity, wells for district heating and cooling, and wells for carbon storage.

In 2024, Archer expanded its renewable service offering by acquiring Moreld Ocean Wind (now: Archer Wind), and a 65% stake in Vertikal Service AS. With around 30 engineers, Archer Wind provides engineering and project management for the fabrication and assembly of lightweight substructures for the floating offshore wind industry. Vertikal Service employs more than 150 skilled personnel and engineers, and provides engineering, project management, inspection, installation and maintenance services to energy customers in both the windpower and the hydropower industry.

With these strategic investments, we anchor our commitment to the ongoing energy transition. We believe that these renewable service segments will provide material growth opportunities and synergies with our existing asset base, operational experience, and core competencies. Our renewable services not only support a sustainable future but also ensures a stable and reliable energy mix.