Keppel Offshore and Marine has secured a €72m contract from an undisclosed renewable energy company for the construction of two offshore substations.
The marine contractor’s work scope comprises the engineering, procurement, construction, testing and commissioning for the topside modules of the two substations for an unknown offshore wind farm.
This excludes the substations’ foundations, as well as certain electrical components which are both to be furnished by the client, Keppel said.
It added that the contract will be on progressive payment milestones and will have neutral project cashflow.
Work is scheduled to be completed in 2024 after which the topsides will then be deployed at an offshore wind farm.
Keppel O&M chief executive Chris Ong said: “We are pleased to secure this contract, which reflects Keppel O&M’s continuing pivot towards renewables and cleaner energy solutions.
“It is testament to Keppel O&M’s execution excellence, as well as our ability to deliver reliable, consistent, and quality solutions for the offshore wind industry.”
Keppel recently completed two offshore substations for the 900MW Changhua 1&2a wind farm in Taiwan and is currently building a HVDC converter station for offshore wind farms in the German sector of the North Sea, as well as the first wind turbine installation vessel in the United States.