Keppel Offshore & Marine (Keppel O&M) has secured a contract from an international renewable energy company for the construction of an offshore substation worth $130 million.
The contract was secured by Keppel O&M’s wholly-owned subsidiary Keppel FELS Limited.
Under the contract, Keppel O&M’s scope of work comprises the engineering, procurement, construction, testing and commissioning for the complete substation. The OSS will have a capacity of 600 MW and is scheduled to be completed in 2025.
The OSS will be deployed in an offshore wind site in Asia Pacific.
“We are pleased to strengthen our track record in offshore wind solutions. As we extend our footprint and deepen our expertise in the offshore renewables industry, Keppel O&M is well-placed to support the growing demand for offshore wind solutions and contribute towards the global energy transition,” says Tan Leong Peng, managing director, new energy/business at Keppel O&M.
The contract is said to boost Keppel O&M’s foothold across the value chain of offshore renewables. The company is also currently building a HVDC converter station for offshore wind farms in the German sector of the North Sea among other projects.
See also: Kingsmen renews F1 contracts for $53.2 million
As at 9.14am, shares in Keppel Corporation are trading 5 cents higher or 0.69% up at $7.27.
