Aker Solutions, a leading Norwegian energy-industry service provider, announced a major contract with Vattenfall for work on the Norfolk Vanguard West Offshore Wind Farm in the UK. The contract is expected to contribute about 4 billion Norwegian kroner ($357.4 million) to Aker Solutions’ fourth-quarter earnings.
Under a limited notice to proceed contract, Aker Solutions will begin certain work on the wind farm while awaiting Vattenfall’s final investment decision. Once the decision is made, the total value of the contract is estimated to reach approximately 6 billion Norwegian kroner (NOK6 billion).
The Norfolk Vanguard West Offshore Wind Farm is just one phase of Vattenfall’s larger Norfolk Offshore Wind Zone project, which also includes the Norfolk Vanguard East and Norfolk Boreas developments. When completed, the entire Norfolk Offshore Wind Zone will have an installed capacity of 1.4 gigawatts, generating enough renewable electricity to power over four million homes.
As part of the agreement, Aker Solutions will be responsible for the engineering, procurement, construction, and installation of a high voltage direct current offshore platform. Furthermore, the development of the Norfolk Offshore Wind Zone may require up to three successive high voltage direct current platforms in the future.
This contract marks a significant achievement for Aker Solutions and reinforces its position as a trusted partner in the renewable energy sector.