BiFab Wins Moray East Contract
- Business & Finance
BiFab has won a contract by GeoSea to produce piles worth up to GBP 26.5 million for the 950MW Moray East offshore wind project.
The contract represents the first in less than a year since DF Barnes, a subsidiary of the Canadian JV Drive, acquired BiFab.
According to DF Barnes, the win will create 82 jobs at the Arnish yard in the Western Isles, the UK.
The company also stated it is in discussions with developers and contractors related to the Neart na Gaoithe (NnG) offshore wind farm.
“This announcement is the first stage in a long process that aims to develop and secure a sustainable business,” said Sean Power, Vice President Business Development at DF Barnes.
“We have made a long term commitment to BiFab and are actively leveraging our global skills and expertise to position the company for future growth.”
To remind, BiFab won a GBP 100 million contract to supply 26 turbine jacket substructures for the 588MW Beatrice offshore wind farm in June 2016, but faced a critical cash position in November the next year due to a challenging situation regarding the ongoing contracts.
Seaway Heavy Lifting (SHL), SSE and the partners to the Beatrice project, JCE Offshore, provided a financial package that ensured BiFab is safe until April 2018 and that it completes the contract.
The Scottish Government then brokered an agreement with JV Driver to support new opportunities at BiFab’s renewables and marine fabrication and construction yards in the UK.
“The award of this contract is great news for BiFab and the wider Isle of Lewis community. The Scottish Government’s continued support, and collaborative approach with DF Barnes, has helped secure, at peak, 82 good quality jobs for this yard,” said Paul Wheelhouse, Minister for Energy, Connectivity and the Islands.
“However, we have always been clear there remains hard work ahead to rebuild the pipeline of work for the business.”