Eversendai Corporation Berhad, Kuala Lumpur, June 1, 2020 – Eversendai Offshore, a wholly owned subsidiary of Eversendai Corporation Berhad is awarded 2 European offshore wind renewable energy projects bringing its outstanding construction order book to an all-time high of RM2.88 billion.
The first project is to fabricate and construct an offshore wind substation platform topside, jacket & piles for an offshore wind farm in United Kingdom. Another project to fabricate and construct jacket & piles for the Hollandse Kust Zuid (HKZ) Beta offshore wind substation platform for TenneT in the Netherlands. Both the contracts with a total contract value of RM186 million is awarded by Petrofac Limited. These projects will be executed in Eversendai’s state-of-the-art 200,000 sq.m. waterfront fabrication yard in RAK Maritime City, Ras Al Khaimah in the United Arab Emirates.
The scope of work for the UK offshore wind farm substation project includes engineering, fabrication, construction, sea- fastening and loadout of the offshore substation platform topside, jacket and piles including HVAC, architectural and mechanical completion as well as pre-commissioning of the substation platform topside. This offshore wind substation will be the highest capacity in the world, and it is expected to generate clean energy that will be enough to power approximately one million homes in that region.
The scope of work for Hollandse Kust Zuid (HKZ) Beta for the Netherlands project includes engineering, fabrication, construction, sea-fastening and loadout of the jacket & piles.
Narish Nathan, Chief Executive Officer at Eversendai Offshore, said “This is a significant achievement that marks our continued expansion in the offshore wind renewable energy sector; a market we recognise is vital for the world’s future clean energy needs. We have been involved in the Hollandse Kust Zuid (HKZ) Alpha project and we are delighted to continue our association with Petrofac building a stronger relationship for the future”.
“This diversification into the offshore wind renewable energy sector continues to promote our diversification efforts of growing our business into industries that leverages on our fabrication facilities and core expertise in engineering, fabrication and construction”, he added.
Eversendai envisages the offshore wind renewable energy projects to be a substantial contributor to the Group’s revenue and profits moving forward and these newly secured projects will further add value to the Group’s track record for future projects which are currently being bid.
In 2019, Europe connected 502 new offshore wind turbines to the grid across 10 projects. This brought 3,627 MW of new (gross) additional capacity. Europe now has a total installed offshore wind capacity of 22,072 MW from 5,047 grid-connected wind turbines across 12 countries. The prospect for offshore wind energy will grow from 22 Gigawatts (GW) in 2018 to 177 GW by 2030 is based on predictions from the industry that manufactures and installs the turbines. The International Energy Agency has said it expects the sector to become a $1 trillion industry within 20 years.
Market information says there is a staggering compound annual growth rate of 19 per cent in offshore wind − faster than any other industry on the planet. One GW is reckoned to be enough to provide electricity to 500,000 homes, so offshore wind will provide enough power for many homes nearby the coast. The new offshore turbines currently being developed in Europe are extremely large, generating as much as 10 MW each and because of their height and their marine locations, these giant turbines can tap winds that blow at constant speeds. There is always constant breeze at sea, so their power supply is far more reliable and predictable.