Eneti’s Seajacks UK subsidiary has signed a contract this month with Siemens Gamesa to transport and install turbines at the 640MW Yunlin offshore wind project, off Taiwan.
Seajacks’ vessel Zaratan will carry out the transportation and installation of the project’s 80 8MW turbines.
The contract starts in the second quarter of 2023 and has a duration of between 153 and 184 days.
It is expected to generate approximately $32m to $36.3m of revenue.
In its first quarter 2022 results, Eneti recorded total revenues of $22.4m, compared to $59.8m for the same period in 2021.
First quarter 2022 revenues consisted primarily of revenues generated by the Seajacks Scylla which was continuing its transportation and installation services for an offshore wind farm project in China and the Seajacks Hydra’s maintenance on an offshore gas production platform in the North Sea and consultancy revenue.
Vessel operating costs and project costs increased in the first quarter due to additional maintenance for the NG 2500s in preparation for employment contracts and higher project costs, said Eneti.
Operating expenses for the Seajacks Scylla and Seajacks Zaratan vessels decreased from the fourth quarter but remain elevated due increased crew and transportation costs as a result of covid-19.