November 14, 2023 - Aker Solutions has been awarded a sizeable[1] contract from
Vattenfall for the Norfolk Vanguard East Offshore Wind Farm off the coast of
Norfolk, UK. The contract has a balanced risk-reward profile based on principles
for long-term collaboration.
The announcement follows the recent award for the Norfolk Vanguard West project,
part of the Norfolk Offshore Wind Zone development in the United Kingdom.
The scope of work for Aker Solutions includes the engineering, procurement,
construction and installation (EPCI) of the high-voltage, direct-current (HVDC)
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.
The project is subject to regulatory approvals and the customer's final
investment decision. 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, Aker Solutions estimates a total
contract value for the company following Vattenfall's final investment decision
to be in the range of NOK 6.0 to 7.0 billion. The contract has a balanced risk
-reward profile and aligned incentives for efficient and safe delivery.
"We are pleased to announce the second award for the Norfolk Offshore Wind Zone
development for Vattenfall. We look forward to supporting Vattenfall to deliver
one of the largest offshore wind zones in the world," said Sturla Magnus,
Executive Vice President of New Build at Aker Solutions.
[1]Aker Solutions defines a sizeable contract as being between NOK 0.5 billion
and NOK 1.5 billion
ENDS
Preben Ørbeck
investor relations
preben.orbeck@akersolutions.com
+47 470 10 611
Odd Naustdal
media contact
odd.naustdal@akersolutions.com
+47 905 76 079
Aker Solutions delivers integrated solutions, products and services to the
global energy industry. We enable low-carbon oil and gas production and develop
renewable solutions to meet future energy needs. By combining innovative digital
solutions and predictable project execution we accelerate the transition to
sustainable energy production. Aker Solutions employs approximately 11,000
people in more than 15 countries.
Visit akersolutions.com and connect with us on
Facebook (https://www.facebook.com/AkerSolutions/),
Instagram (https://instagram.com/akersolutions/),
LinkedIn (https://www.linkedin.com/company/aker-solutions),
Twitter (https://twitter.com/akersolutions) and
YouTube (https://www.youtube.com/akersolutions).
This press release may include forward-looking information or statements and is
subject to our disclaimer, see https://akersolutions.com
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange release was published by William Stoichevski,
Communications, Aker Solutions, on November 14th, 2023 at 18:00 CET.