Offshore Wind Keeps Fugro Busy
Fugro has recently secured several offshore wind-related contract awards in the USA and in the Netherlands.
The company has been selected to carry out geotechnical site investigations at the Hollandse Kust West offshore wind zone in the Dutch North Sea.
The 1.4GW Hollandse Kust West is one of the three wind farm zones identified in the Offshore Wind Energy Roadmap 2030, which looks to add further 7GW of offshore wind capacity in the Dutch North Sea from 2024 to 2030.
Fugro will also conduct a number of offshore wind farm site characterisation surveys on the East Coast of the USA, including follow-on site investigations for Ørsted at its Ocean Wind site offshore New Jersey.
Fugro revealed the recent contract awards in its financial report for 2018 which saw the company increase its revenue by 19.2% to EUR 1.65 billion on a comparable basis, driven by oil and gas, offshore wind, and infrastructure markets. All divisions showed growth, in particular Marine, Fugro said.
The Marine division’s revenue stood at 1.086 billion in 2018, an increase of 27.4% year-on-year on a comparable basis. The rise is said to be driven by the company’s ”leading market shares in the oil and gas market and its increasingly global position in offshore wind, particularly in Europe and the Americas.”
Site characterisation revenue increased by 48.2% at constant currencies to EUR 563.9 million, capturing the upturn in the oil and gas and offshore wind markets, Fugro said.