NKT has signed a Preferred Bidder Agreement (PBA) for delivery and installation of export cable systems to the prospective offshore wind farm project Moray East.
Now, NKT and the project developer, MOWEL, Moray East Offshore Windfarm Ltd, owned by EDP Renováveis S.A., ENGIE and Diamond Generating Europe Ltd., have signed the final binding agreement on the project. For NKT, it means that the order is confirmed.
The Moray East project comprises manufacture of approximately 175 km of 220 kV AC offshore export cables, installation by the NKT Victoria cable-laying vessel and burial of the cables. The order represents a contract value for NKT of approximately EUR 150 million (approximately DKK 1,118 million) in market prices, equivalent to approximately EUR 140 million (approximately DKK 1,043 million) in standard metal prices. Installation of the cables is expected to commence in 2020.
The Moray East offshore wind farm is to be situated off the north-east coast of Scotland and will provide electricity for approximately one million UK households when fully commissioned by 2021.