Boskalis and NKT Confirm Triton Knoll Cabling Deal
- Business & Finance
A consortium comprising Boskalis Subsea Cables and Flexibles (previously VBMS) and NKT has signed a firm contract for delivery and installation of export and array cable systems to the offshore wind farm project Triton Knoll.
Innogy, the project owner, has made the final investment decision for the Triton Knoll offshore wind farm, and the preferred supplier agreement (PSA) signed in September 2017, has now been converted into a firm order for the consortium.
NKT president and CEO, Michael Hedegaard Lyng, says: “With this firm order, I look forward to further building our co-operation with the project owner of Triton Knoll, and also to being a substantial and reliable partner in the green transformation of the UK and European power supply.
“We firmly believe that offshore wind as well as the interconnectors markets will see further growth in the coming years to support the ambitious European renewable energy targets.”
As previously announced, the order represents a contract value for NKT of approximately EUR 115 million in market prices, equivalent to approximately EUR 96 million in standard metal prices.
The contract carries a value for Boskalis of approximately EUR 90 million, the company said.
The cables will be delivered in Q4 2019 and Q2 2020, respectively.
Triton Knoll offshore wind farm is located in the southern North Sea, off the UK east coast, and is expected to be one of the most cost effective and low cost generating wind farm projects in the UK. When commissioned, Triton Knoll will provide electricity for more than 800,000 households.