Lamprell Negotiating ‘Very Large’ Offshore Wind Contract
The UAE-based offshore construction and fabrication specialist Lamprell has entered into exclusive negotiations as a preferred supplier with an international client in the offshore wind industry for what the company describes as ”a very large contract.”
Lamprell said it will now work with the client to confirm the terms of a reservation agreement that will secure capacity in Lamprell’s Hamriyah yard for the work as negotiations proceed towards contract award.
The company defines a very large contract as having a value in excess of USD 150 million.
”We have seen a ramp up in bidding activity from Q4 2021 and we are currently in advanced stages of tendering with several potential clients across the globe, driven by the increased demand in both of our end markets of renewables and oil & gas,” Christopher McDonald, CEO of Lamprell, said.
”An emerging trend particularly in renewables sector is the introduction of reservation agreements to secure fabrication yard capacity for projects up to a year in advance We view these agreements as a very positive sign of forward planning and addressing limited capacity in the industry.”
The signing of preferred supplier exclusivity is a significant milestone in the contract process, but it is not a guarantee of contract, Lamprell said. The company will provide further details of the project in the event of the successful conclusion of negotiations.
Back in January 2021, Lamprell initiated the process of establishing a new business unit targeting the offshore renewable energy sector.
Lamprell has also recently turned its focus to other offshore wind markets such as the US, as well as to other technologies such as floating wind.
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