Keppel Offshore & Marine (O&M), through its Keppel FELS arm has secured a contract for the construction of a 600MW offshore substation worth S$130m (€91m).
Keppel O&M’s work scope for the undisclosed “international renewable energy company” comprises the engineering, procurement, construction, testing and commissioning for the complete substation.
The substation is scheduled to be completed during 2025 for deployment at an offshore wind site in the Asia Pacific region.
Tan Leong Peng, Managing Director of New Energy/Business, at Keppel O&M, said: “We are pleased to strengthen our track record in offshore wind solutions.
“As we extend our footprint and deepen our expertise in the offshore renewables industry, Keppel O&M is well-placed to support the growing demand for offshore wind solutions and contribute towards the global energy transition.”
Keppel O&M is building a HVDC converter station for offshore wind farms in the German sector of the North Sea, two offshore substations for an offshore wind farm, as well as a wind turbine installation vessel in the US.
In 2021, it delivered two offshore substations, now operational in Taiwan.
The new contract is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the financial year of 2022.