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Keppel secures contract in the offshore renewable energy industry

Published by
Energy Global,

Keppel Offshore & Marine Ltd (Keppel O&M) has secured a contract valued at approximately $600 million from an energy company for the engineering, procurement and construction of a vessel for the offshore renewable energy industry. This is in line with Keppel Co.’s ‘Vision 2030’, which includes seeking opportunities in providing renewable energy solutions.

Keppel O&M is able to provide a variety of design and construction solutions for the offshore renewable energy industry. It is currently building converter stations and substations to support the offshore wind energy industry in the German sector of the North Sea and in Taiwan. It also delivered and has a stake in Blue Tern, an advanced multipurpose offshore wind turbine installer for the UK North Sea.

The new contract is on progressive payment terms and is not expected to have any material impact on the net tangible assets and earnings per share of Keppel Co. Ltd for the current financial year.

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