Keppel Offshore & Marine has signed a global framework agreement with Orsted on potential future offshore substation (OSS) projects.
The agreement, between Keppel Offshore & Marine’s subsidiary Keppel FELS and Orsted, is part of a strategic initiative to “streamline processes” for future OSS projects.
This follows Keppel O&M’s recent completion of its first project for Orsted in Singapore in September 2021, comprising two OSS for Taiwan’s Greater Changhua 1 & 2a offshore wind farms.
Chris Ong, CEO of Keppel O&M, said: “We are pleased that Orsted, the world’s biggest offshore wind developer, has signed a framework agreement with us so we can provide value added solutions for the long term.
“It reflects the partnership and trust we have built with Orsted, as well as the quality of work demonstrated by Keppel O&M on the first two offshore substations we built for them.
“We look forward to strengthening our partnership with Orsted as we grow our track record in delivering innovative and cost-efficient solutions for the offshore wind industry.”
Keppel is also building an offshore HVDC converter station for TenneT for offshore wind farms in the German sector of the North Sea.
More recently, it secured a contract to build two OSS for a renewable energy company and is building the first wind turbine installation vessel, Charybdis, in the US for Dominion Energy.
The above development is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.