Keppel Nets EUR 375 Million Shipbuilding Contract

Singapore-based Keppel Offshore & Marine has secured a contract an engineering, procurement and construction (EPC) contract for a vessel which will work in the offshore renewable energy industry.

The deal is valued at approximately SGD 600 million (around EUR 375 million).

Aside from the contract announcement and the estimated value, Keppel has not disclosed any further details, only referring to its client as an energy company.

“This is in line with Keppel Corporation’s Vision 2030, which includes seeking opportunities in providing renewable energy solutions”, Keppel said in a press release on 9 October.

Keppel has been doing business in offshore wind for a while. The company has built the Blue Tern installation vessel, and is currently working on converter stations and substations to support the offshore wind energy industry in the German sector of the North Sea and in Taiwan.

For the German offshore wind sector, in a consortium with Aibel, Keppel will deliver the HVDC platform and an onshore converter station for TenneT’s DolWin5 offshore grid connection.

In Taiwan, the company will supply two offshore substations for the Greater Changhua wind sites, developed by Ørsted.