Petrofac wins contract for Dutch offshore wind farm grid
Petrofac has been awarded a $200m contract by Dutch-German transmission grid operator TenneT for the Hollandse Kust Zuid offshore grid connection for a wind farm in the North Sea.
The Dutch government is targeting a total of 3.5 gigawatt of wind energy production capacity offshore by 2023. To achieve this, five 700 megawatt standardised concept transformer substations are planned for installation offshore Netherlands.
Petrofac will be responsible for the engineering, procurement, construction and installation (EPCI) of the third and fourth substations.
Group chief commercial officer George Salibi said: "We have been involved in a number of projects with TenneT in the North Sea, so are delighted with the opportunity to support them with this key project. The award of this EU tender builds on our relationship and is further demonstration of Petrofac's expansion into adjacent sectors, including renewable energy."
At 0940 BST, the shares were up 2% to 567.60p.