SUBCY Subsea 7 SA (PK)

By Dominic Chopping

Seaway 7 ASA said Thursday that it has signed a letter of exclusivity toward finalization of a preferred-bidder supply-chain deal with ScottishPower Renewables for the East Anglia Three offshore wind project.

The Norwegian provider of offshore wind farm construction services said that if the deal comes to fruition it would represent a very large contract agreement, worth between $500 million and $750 million.

East Anglia Three is around 70 kilometers (43 miles) offshore in the U.K.'s southern North Sea and forms one of three consented offshore wind farm developments planned by ScottishPower Renewables, known as the East Anglia Hub.

East Anglia Three will contribute around 1,400 megawatts of a potential 3,000 megawatts of renewable energy generation capacity at East Anglia Hub.

Seaway 7's scope of work would include the transport and installation of 95 monopile foundations, associated seabed preparation and protection around the base of the foundation along with the engineering, supply and installation of the inner-array cables that link the turbines to a substation.

The project is expected to commence early works in 2022 with offshore work commencing in 2024, subject to a final investment decision by ScottishPower Renewables.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

June 16, 2022 06:47 ET (10:47 GMT)

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