Oslo – 07 June 2022 at 15:45 CET – Seaway 7 ASA (Euronext Growth: SEAW7) has today announced that it has been selected by Seagreen 1A Limited as a preferred supplier for the Seagreen 1A offshore wind project, offshore Scotland. Seagreen 1A is adjacent to the existing Seagreen project that Seaway 7 is currently progressing and represents approximately 500MW of additional renewable energy generation capacity.
Seaway 7’s scope of work is under final negotiation and may include the full engineering, fabrication, transport and installation of 36 foundations, transportation and installation of the offshore substation and the procurement and installation of inner-array cables. Execution of the scope will be led from Seaway 7’s Aberdeen office.
The project is expected to commence in 2023 with offshore work commencing in late 2024 and could be operational by 2025/26.
The timeframe and Seaway 7’s selection are subject to the Seagreen 1A project reaching FID. The value related to this very large (1) agreement will not be recognised in Seaway 7’s backlog until final contractual terms have been agreed.
Stuart Fitzgerald, CEO Seaway 7, said: “We are delighted to be continuing our successful relationship with SSE Renewables and TotalEnergies to progress the Seagreen 1A project. The project will continue to be managed from our office in Aberdeen where we are bringing over a decade of UK offshore wind expertise to Scotland’s largest offshore wind project.”
(1) “Very large” agreements are between $500m and $750m.
-Ends-
Contact for investment community enquiries:
Stuart Fitzgerald
Tel +47 911 89 669
Stuart.Fitzgerald@seaway7.com
Mark Hodgkinson
Tel +44 7788 316 501
Mark.Hodgkinson@seaway7.com
About Seaway 7
Seaway 7 is a global leader in the delivery of fixed offshore wind projects, committed to contributing to an efficient and sustainable energy supply for the future.
Seaway 7 is listed on Oslo’s Euronext Growth (SEAW7).
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This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
The stock exchange announcement was published by Stian Lysaker, Treasurer in Seaway 7 ASA, at the date and time as set out above.
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