Infrastrata PLC Award of Major Fabrication Contract (6615V)
April 16 2021 - 1:00AM
UK Regulatory
TIDMINFA
RNS Number : 6615V
Infrastrata PLC
16 April 2021
16 April 2021
InfraStrata plc
("InfraStrata" or the "Company")
Award of Major Fabrication Contract
InfraStrata plc (AIM: INFA), the UK quoted company focused on
strategic infrastructure projects and physical asset lifecycle
management, is pleased to announce that it has been awarded a
contract by Saipem Limited ("Saipem") for the fabrication and
load-out of eight wind turbine generator (WTG) jacket foundations
for the EDF Renewables and ESB Energy owned Neart na Gaoithe
Offshore Wind Farm project located in the outer Firth of Forth in
Scotland.
The contract value is circa GBP26million, is binding and
contains contractual conditions and obligations on both parties,
which are standard in contracts of this type. The contract schedule
shall commence from 1 July 2021.
The works for fabrication, consolidation and load-out of the
eight WTG jacket foundations will principally be conducted at
Harland and Wolff's newly acquired Methil facilities in Scotland.
Should there be an opportunity to further optimise the works
programme and make the contract more cost-effective, the Company
and Saipem will work jointly to spread additional workstreams
within the contract across the Company's three other sites;
Belfast, Arnish and Appledore.
John Wood, CEO of InfraStrata, commented:
"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.
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. This will enable us to spread
workstreams across our facilities to drive down costs, deliver
against tight schedules and, crucially, align ourselves to the
government's goal of providing wind generated power to all homes in
the UK by 2030.
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."
Notes to Editors:
About Infrastrata
InfraStrata plc is a London Stock Exchange-listed firm focused
on the development, commercialisation and operation of advanced
high-value strategic infrastructure facilities and projects.
InfraStrata acquired the assets of Harland & Wolff (Belfast) in
December 2019 and has since made three further asset acquisitions
including its Appledore shipyard in August 2020 and the two assets
of Burntisland Fabrications (BiFab) in Methil and Arnish in
February 2021. In addition, InfraStrata owns an underground natural
gas storage facility at Islandmagee in County Antrim, Northern
Ireland.
About Neart na Gaoithe
Neart na Gaoithe means 'strength of the wind'. NnG is a key UK
offshore wind farm project and, with up to GBP1.8billion invested
in its infrastructure, will have a major positive impact on the
Scottish economy. NnG is located off the east coast of Scotland,
15.5 km off the Fife coast and covers an area of approximately 105
km2. EDF Renewables acquired NnG in 2018 and in 2019 sold a 50%
stake to leading Irish Energy Company, ESB.
About EDF Renewables in the United Kingdom
EDF Renewables is one of the UK's leading renewable energy
companies which develops, builds and operates generation projects
with a focus on onshore and offshore wind as well as battery
storage technology. It also looks after the operations and
maintenance of its own wind farms. The company already operates
more than 965MW of wind farms and battery storage (including 500 MW
in Scotland with 460 MW under construction) and has more than 4GW
consented and in development. The company employs more than 350
people.
About ESB
ESB operates across the electricity market on the island of
Ireland: from generation, through transmission and distribution to
the supply of customers with an expanding presence across Great
Britain. In 2017 ESB opened an office in Glasgow to spearhead
further development of renewables, in particular onshore and
offshore wind, across Scotland. ESB is the owner of the
distribution and transmission networks in the Republic of Ireland
(via ESB Networks) and Northern Ireland (via Northern Ireland
Electricity Networks Ltd). In 2017, the company had a 42% share of
generation in the all-island market (via Generation and Wholesale
Markets) and a 34% share of electricity supply in the all-island
market (via Electric Ireland) with 1.4 million customer
accounts.
About Saipem
Saipem is a leading company in engineering, drilling and
construction of major projects in the energy and infrastructure
sectors. It is "One-Company" organized in five business divisions
(Offshore E&C, Onshore E&C, Offshore Drilling, Onshore
Drilling and XSIGHT, dedicated to conceptual design). Saipem is a
global solution provider with distinctive skills and competences
and high-tech assets, which it uses to identify solutions aimed at
satisfying customer requirements. Listed on the Milan Stock
Exchange, it is present in over 60 countries worldwide and has 32
thousand employees of 130 different nationalities.
This announcement contains inside information.
For further information, please visit www.infrastrataplc.com or
contact:
InfraStrata plc +44 (0)20 3900 2122
John Wood, Chief Executive investor@infrastrataplc.com
Seena Shah, Head of Marketing & Communications
Cenkos Securities plc (Nominated Adviser
& Broker)
Stephen Keys / Callum Davidson (Corporate
Finance)
Michael Johnson (Sales) +44 (0)20 7397 8900
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