NKT confirms turnkey order for 950 MW Moray East offshore wind project
NKT has announced that it has signed the final binding agreement for delivery and installation of export cable systems to the prospective offshore wind farm project Moray East. The project developer Moray East Offshore Windfarm Ltd (MOWEL) is owned by EDP Renováveis S.A., ENGIE and Diamond Generating Europe Ltd.
NKT signed a Preferred Bidder Agreement (PBA) for the cabling with MOWEL in November 2017. The latest signing means that the order is confirmed.
The Moray East project comprises manufacture of approx. 175 km of 220 kV AC offshore export cables, installation by the NKT Victoria cable-laying vessel and burial of the cables. The order represents a contract value for NKT of approx. EUR150 million (US$170.9 million) in market prices, equivalent to approx. EUR140 million (US$159.5 million) in standard metal prices. Installation of the cables is expected to commence in 2020.
The Moray East offshore wind farm is to be situated off the north-east coast of Scotland. With 950 MW generation capacity, it will provide electricity for approx. one million UK households when fully commissioned by 2021.
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