Aker Solutions Awarded Major Offshore Wind Contract

Rhea-AI Summary

Aker Solutions has secured a NOK 3 billion EPCI contract for a high-voltage direct current (HVDC) transmission system as part of a consortium for a large offshore wind project. The scope includes engineering, procurement, construction, and installation of an HVDC converter platform, with work commencing immediately. Installation is scheduled for the second half of 2024, with final deliveries expected in 2025. This contract will be recorded as order intake in the third quarter of 2021, boosting Aker's Renewables and Field Development segment.

Positive

• Secured NOK 3 billion EPCI contract, enhancing revenue.
• Work to start immediately, indicating strong project pipeline.
• Contribution to the growing offshore wind sector.

Negative

• None.

OSLO, Norway, July 19, 2021 /PRNewswire/ -- Aker Solutions, as part of a consortium, has signed a major¹ EPCI contract with an undisclosed customer to provide the HVDC (high-voltage, direct current) transmission system for a large offshore wind project. More details about the project is expected to be announced by the customer and its partners during the third quarter of 2021.

For Aker Solutions, the scope will involve engineering, procurement, construction and installation (EPCI) of an offshore HVDC converter platform. This platform will consist of a steel jacket substructure and a topside platform deck housing the electrical equipment. Work will start immediately with installation planned to start in the second half of 2024 and final deliveries in the second half of 2025.

In an offshore wind project, the role of an offshore HVDC platform is to collect the AC power generated by the wind turbine generators (WTGs) and convert it to DC before transmission through an export cable to the project's onshore converter station and grid connection system.

Aker Solutions will book about NOK 3 billion as order intake related to this award in the third quarter of 2021, in the Renewables and Field Development segment.

¹Aker Solutions defines a major contract as being NOK 3.0 billion and above.

CONTACT:

Media Contact:
Torbjørn Andersen, mob: +47 928 85 542, email: torbjorn.andersen@akersolutions.com

Investor Contact:
Fredrik Berge, mob: +47 450 32 090, email: fredrik.berge@akersolutions.com

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https://news.cision.com/aker-solutions-asa/r/aker-solutions-awarded-major-offshore-wind-contract,c3386392

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SOURCE Aker Solutions ASA

FAQ

What is the value of the contract awarded to Aker Solutions?

Aker Solutions was awarded a NOK 3 billion EPCI contract.

When will the installation of the HVDC platform begin?

Installation is planned to start in the second half of 2024.

What type of project is Aker Solutions involved in?

Aker Solutions is involved in a large offshore wind project.

When will Aker Solutions book the order intake related to this contract?

The order intake will be booked in the third quarter of 2021.

What does the scope of the contract include?

The contract includes engineering, procurement, construction, and installation of an HVDC converter platform.