Aker Solutions has been awarded a sizeable contract worth between NOK 0.5 billion (about EUR 42 million) and NOK 1.5 billion (approx. EUR 127 million) from Vattenfall for the Norfolk Vanguard East offshore wind farm in the UK.
The announcement follows the recent award for the Norfolk Vanguard West project, part of the Norfolk Offshore Wind Zone development located some 47 kilometres from the Norfolk coast.
Under the new contract, which has a balanced risk-reward profile, Aker Solutions will be responsible for the engineering, procurement, construction, and installation (EPCI) of the high-voltage direct-current (HVDC) offshore platform.
Just like with the Vanguard West offshore platform, the fabrication of the topside will be executed in a joint venture with Drydocks World Dubai and the substructure will be fabricated at Aker Solutions’ yard in Verdal, Norway.
According to the company, Aker Solutions will at this stage book an order intake reflecting the compensated work that is to be performed until the end of the second quarter of 2024.
Further to this, the company estimates a total contract value following Vattenfall’s final investment decision to be in the range of NOK 6 to NOK 7 billion (EUR 508 million to EUR 592 million).
The Norfolk Zone comprises the Norfolk Vanguard and the Norfolk Boreas offshore wind farms.
In July 2022, Vattenfall secured a Contract for Difference (CfD) for the 1.4 GW Norfolk Boreas. A year later, the company stopped the development of the project and said that the decision was made due to ”challenging market conditions” , adding that ”financial frameworks have not adapted to reflect the current market conditions” so far.
YOU MIGHT ALSO LIKE
The Norfolk Vanguard offshore wind farm was awarded a Development Consent Order (DCO) in February 2022.
The project has a capacity of 2.8 GW and, once completed, it will provide the equivalent electricity needs of 1.95 million UK homes per year, according to the developer.