Dutch outfit Van Oord reported revenue from its offshore wind activities of €403m in 2017, up slightly on the €394m posted in 2016.
The company said the order book in the business unit is full, with work contracted for 2018, 2019 and 2020 on the 370MW Norther, 714MW East Anglia 1, 268.4MW DeBu and 731.5 Borssele 3&4 projects.
Van Oord expects offshore wind to be a growth area and boost this year’s overall revenue, which fell in 2017 to €1.53bn from €1.71bn the previous year on the back of a poor showing in the company’s dredging division.
Van Oord chief executive Pieter van Oord said: “The volume of work in offshore wind was stable, and the market dynamic in the offshore wind sector will generate a lot of opportunities for years to come.
“The transition to renewable energy is taking shape and the construction of offshore wind farms is a growing market in which we have a strong reputation.”
The company is upgrading its offshore installation vessel Aeolus to handle the latest generation of wind turbines.
“The fact that the Aeolus is being upgraded only three years after it was built indicates how rapidly offshore wind technology is advancing,” Van Oord said.
Overall, the company reported a net profit of €78m in 2017, down from €90m in 2016.
Image: Van Oord
Steady wind for Van Oord
By EBS