“We are hugely excited about the massive potential that this first contract has unlocked,” said chief executive John Wood
The AIM-quoted company is hired to fabricate and load out eight wind turbine generator (WTG) jacket foundations. It has a contract value of £26mln and commences in July 2021 with work mainly taking place at the recently acquired company’s Harland and Wolff Methil facilities in Scotland.
“We are delighted to have entered into this contract with Saipem and I believe that this contract paves the way for the execution and delivery of future fabrication contracts, a significant number of which are currently in advanced negotiations,” said John Wood, chief executive.
“The geographical proximity of our Methil facility to the North Sea makes it an ideal site for fabrication and load-out to wind farm projects such as this.”
“More importantly, it validates our strategic vision of expanding the group’s fabrication footprint into regions that are strategically located within close proximity to major wind farm projects.”
He added: “I am confident that this is only the beginning of a stream of projects in our pipeline that we expect come to fruition.”
“We are hugely excited about the massive potential that this first contract has unlocked, and we look forward to working with Saipem to successfully deliver under it.”
Infrastrata noted that it will work with Saipem if opportunities arise to optimise the works programme to make it more cost-effective, by spreading additional workstreams for the contract across three other sites (Belfast, Arnish and Appledore).
John Wood highlighted that the positioning of its facilities help such an approach and will also assist the company deliver against tight schedules and align with the UK government’s goal of providing wind generated power to all homes in the UK by 2030.
Infrastrata acquired the assets of the iconic Harland & Wolff Shipyard in Belfast from administrators in 2019, it provided synergies to the company’s Islandmagee project and provided a foothold in a broader engineering services business focussed on offshore renewables and shipping.
Further transactions in 2020 expanded the new Harland & Wolff footprint.
The Neart na Gaoithe windfarm is deemed to be a key UK offshore wind project, representing around £1.8bn of infrastructure alone. It is located some 15 kilometres offshore, in the outer Firth of Forth, and will cover some 105 square kilometres. The project is a joint venture between French power major EDF and Irish semi-state electricity group ESB.
Read More: Infrastrata PLC lands £26mln fabrication contract for EDF windfarm in Scotland