Petrofac wins German North Sea wind contract

15th Apr 2014 10:49

Oil and gas services provider Petrofac has won a major contract for offshore wind farm grid connection in the German North Sea.In consortium with Siemens, Petrofac won the contract from TenneT, the German-Dutch transmission grid operator, for its BorWin3 offshore wind farm which begins commercial operation in 2019, but did not elucidate on the monetary size of the deal. Petrofac will be responsible for the construction and offshore installation of the BorWin3 platform, which will house a Siemens high voltage direct current (HVDC) station that converts power produced by the wind turbines so it can be transmitted onshore to the German national grid. The FTSE 100 company said the HVDC station will be one of the biggest of its kind, with a transmission capacity of 900 megawatts (MW). Marwan Chedid, Chief Executive of Petrofac's Engineering, Construction, Operations and Maintenance (ECOM) business, noted that Petrofac was involved in a number of projects with TenneT in the German North Sea and, since January 2009, has been providing people, maintenance and support services to the adjacent Borwin alpha platform. "We are delighted to be partnering with Siemens on this significant contract, which deepens a relationship with an important customer and allows us to utilise our vast experience of operating in the North Sea and delivering large scale, complex projects," he said.Shares in Petrofac spiked higher on the announcement but then resumed their downward on the day, falling 1.2% to 1,396p by 10:45 on Tuesday. OH