Harsha Jethnani, Straits Times 24 Mar 10;
A KEPPEL Corp unit has won a $117.6 million contract to build a vessel that will be used to erect a wind farm off the German coast.
Keppel Verolme, which is based in the Netherlands, will partner German firm Areva Energietechnik to undertake the project.
It is Keppel Verolme's first contract to build a vessel for the wind energy sector.
The deal was awarded by Wetfeet Offshore, which will build and operate the wind farm in the North Sea, according to a Keppel Corp statement yesterday.
'This marks Keppel's entry into the offshore wind energy business, and affirms Wetfeet Offshore's confidence in our ability with Areva to deliver the best solution for the job,' said Keppel Verolme managing director Harold Linssen.
The barge will serve as a platform to carry the transformers and high voltage switchgear for the wind turbines, which will eventually deliver electricity to Germany's power grid.
'Germany aims to raise its percentage of electricity generated from renewable sources to at least 20 per cent by 2020 and 50 per cent by 2050,' said Mr Linssen.
'A major element in achieving this target is to further develop the capacity of its offshore wind sector.'
The wind farm will be able to generate about 1.4 billion kilowatt hours of electricity once it is fully operational in 2013.
It could power nearly 134,000 average American homes a year, according to the United States Environmental Protection Agency.
The farm will supply one million people with clean energy and reduce carbon dioxide emissions by about 1.2 million tonnes each year.
Keppel Verolme will handle the engineering and construction work for the barge while Areva Energietechnik will fabricate and install special equipment. The vessel should be completed later next year.
Areva Energietechnik is a German subsidiary of French energy company Areva.
Keppel Verolme is in a strategic position to add value to the offshore wind industry, given its proximity to the European and North Sea markets, Mr Linssen said.
The project 'augments our strong track record and expertise in delivering a variety of advanced offshore rigs and vessels on time, within budget and without incidents', he added.
Keppel Corp closed 19 cents higher at $9.16 yesterday.
Keppel bags first contract for German wind farm
Georgina Joseph Channel NewsAsia 23 Mar 10;
SINGAPORE: Keppel Verolme and consortium partner AREVA have secured a S$117.6 million contract to build a barge for a new offshore wind farm in the German Zone of the North Sea.
Mr Harold Linssen, managing director of Keppel Verolme in The Netherlands, said this latest contract marks Keppel's successful entry into the offshore wind energy business.
When fully operational in 2013, the wind farm will be able to generate some 1.4 billion kilowatt hours of electrical energy annually. This will supply one million people with clean energy. It is also expected to help cut some 1.2 million tons of carbon dioxide emissions each year.
Keppel Verolme will carry out the detailed engineering and construction work on this new platform design, while AREVA will design, fabricate and install the transformers and other equipment.
The vessel is targeted for completion in the fourth quarter of 2011.
The contract is not expected to have material impact on the earnings per share of Keppel Corporation for the current financial year.
- CNA/sc
