Seaway 7 signed letter of exclusivity for East Anglia THREE offshore wind farm
Luxembourg – 16 June 2022 - Seaway 7 ASA (Euronext Growth: SEAW7), part of the Subsea 7 Group (Oslo Børs: SUBC, ADR: SUBCY), announced today that it has signed a letter of exclusivity, and is finalising a preferred bidder supply chain agreement, with ScottishPower Renewables for the East Anglia THREE offshore wind project.
East Anglia THREE is located approximately 70 kilometres from shore in the Southern North Sea and is one of the three consented offshore wind farm developments that form the East Anglia Hub, planned by ScottishPower Renewables. East Anglia THREE will contribute approximately 1,400 MW of a potential 3,000 MW 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 scour protection along with the engineering, supply and installation of the inner-array cables.
Execution of the scope would be led from Seaway 7’s Aberdeen office. The project is expected to commence in 2022 with offshore work scheduled for 2024, subject to East Anglia THREE securing a final investment decision (FID) by ScottishPower Renewables.
The value of the contract will only be recognised by Seaway 7 in the order backlog after FID and would represent a very large project1 award.
Stuart Fitzgerald, CEO Seaway 7, said: “We are pleased to support ScottishPower Renewables to progress the East Anglia THREE project. Seaway 7 is looking forward to bringing over 10 years of offshore wind experience to one of the world’s largest offshore wind complexes, representing a significant contribution to the UK’s renewable target.”
(1) Subsea 7 and Seaway 7 define a very large contract as being between USD 500 million and USD 750 million.
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Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.
Subsea 7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
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