Seaway7 Secures Major Contract for Offshore Wind Project
Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) is excited to announce that its subsidiary, Seaway7, has been awarded a pivotal contract by ScottishPower Renewables. This contract involves the transport and installation of inter-array cables for the ambitious East Anglia TWO offshore wind project.
Expanding Renewable Energy Initiatives
The East Anglia TWO offshore windfarm, with an estimated investment of £4 billion, is planned to be located around 33 kilometers from the English coast, within the stunning Southern North Sea. This project achieved success in securing contracts for difference (CfD) in a recent allocation round, aiming to generate an impressive 960 MW of clean energy. This output is significant, with the potential to provide power to nearly one million homes.
East Anglia TWO isn't just a standalone project; it is part of a larger vision involving three consented offshore wind farms, contributing to the East Anglia Hub. Together with the already operational East Anglia ONE, they will create an extraordinary energy generation capacity of 4,000 MW of renewable energy.
Seaway7's Role in the Project
In terms of deliverables, Seaway7’s responsibilities encompass the engineering, supply, and installation of 64 inter-array cables necessary for the wind farm's operations. This engagement will be spearheaded from Seaway7’s Aberdeen base in the UK, with offshore execution slated to kick off in 2027, marking a vital step in bolstering UK’s renewable energy landscape.
Leadership Insights
Stuart Fitzgerald, the CEO of Seaway7, expressed enthusiasm regarding the project, stating, "This award reinforces our prominent role in the UK renewable sector and signifies a substantial contribution towards the UK’s climate targets. We are eager to continue our collaboration with ScottishPower on this important project, following our successful partnership on the East Anglia THREE project, which is already underway.”
ScottishPower's Commitment to Renewable Energy
Charlie Jordan, CEO of ScottishPower Renewables, highlighted the importance of this contract, remarking, "We are thrilled to finalize substantial parts of our supply chain for East Anglia TWO thanks to the successful CfD allocation. Our confirmed contracts enable us to commence operations swiftly, ensuring the delivery of another gigawatt of clean energy that will positively impact communities and the environment for years ahead.”
About Subsea7
Known as a global leader in offshore project delivery and services, Subsea7 focuses on fostering sustainable value by being a preferred partner in delivering innovative offshore solutions. The organization is dedicated to shaping the future of energy through its commitment to environmental integrity and renewable initiatives.
Contact Information
If you are part of the investment community and want to get in touch, contact Katherine Tonks, the Investor Relations Director, at +44 (0)20 8210 5568 or email at ir@subsea7.com.
For media inquiries, reach out to Nikki Beales, Communications Manager at Seaway7, at +44 (0)7843895292 or via email at nikki.beales@seaway7.com. More information can also be found at www.seaway7.com.
Frequently Asked Questions
What is the East Anglia TWO project?
The East Anglia TWO project is a substantial offshore windfarm aiming to generate 960 MW of renewable energy, enough to power close to one million homes.
Who awarded the contract to Seaway7?
The contract was awarded by ScottishPower Renewables for the transport and installation of inter-array cables for the East Anglia TWO offshore wind project.
When will offshore activities begin for this project?
Offshore activities are scheduled to commence in 2027, led from Seaway7's office in Aberdeen.
What is the significance of this project for the UK?
This project contributes to the UK’s renewable energy targets and supports the development of significant renewable energy generation capacity.
How can investors get in touch with Subsea7?
Investors can contact Katherine Tonks, the Investor Relations Director, via telephone or email to direct their inquiries or gain further insights.
