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Saipem wins two offshore wind contracts for EUR 750m in Scotland, Taiwan

Formosa I Phase II in Taiwan. Image by: ├śrsted A/S.

November 29 (Renewables Now) - Italy-based Saipem SpA (BIT:SPM) said Thursday it has secured contracts with a total value of EUR 750 million (USD 825m) to supply foundation jackets for a 450-MW offshore wind development in Scotland and a 376-MW offshore wind project in Taiwan.

The total amount of the contracts represents over 15% of the order intake for the engineering, drilling and construction company's E&C Offshore Division so far this year.

The first contract is for Saipem to engineer, procure, construct and install 54 steel foundation jackets for the wind turbines as well as two steel foundation jackets for the offshore power substations, while also transporting and installing the relevant topsides at the Neart na Gaoithe wind farm. The project developed by EDF Renewables, part of French utility Electricite de France SA (EPA:EDF), in partnership with Irish state-owned utility Electricity Supply Board (ESB), is to be located off the coast of Fife in south-east Scotland. The contract marks the first turn-key project win for Saipem in the offshore wind market. 

Under the second agreement, Saipem is to supply the material and manufacture 32 foundation jackets for the wind turbines at the Formosa II offshore wind project off the coast of Taiwan's Miaoli County. The development is led by Macquarie’s (ASX:MQG) Green Investment Group and Swancor Renewable Energy. JERA Co, a joint venture between Tokyo Electric Power (TYO:9501) and Chubu Electric Power (TYO:9502), agreed to take a 49% stake in the project last month. Construction works are due to begin early next year.

(EUR 1.0 = USD 1.1)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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