Subsea7 (SUBCY) Secures Two Offshore Wind Projects in Poland [Yahoo! Finance]
SUBSEA 7 S.A. S/ADR (SUBCY)
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subsea7.com/en/investor-relations.html
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Source: Yahoo! Finance
The first contract has been awarded by Equinor and its partner Polenergia, while the second one has been bestowed by PGE Polska Grupa Energetyczna and Ørsted. The first contract involves work for the inter-array cables of the MFW Baltyk II and MFW Baltyk III bottom-fixed offshore wind projects. Per the terms of the agreement, Seaway7 will be responsible for carrying out engineering, procurement, construction and installation (EPCI) of 100 66kV inter-array cables, which measure approximately 200 km in length. The projects will be carried out in the Polish part of the Baltic Sea, with the offshore works expected to begin in 2026. The contract value lies in the range of $150-$300 million. Both projects will be executed in continuous campaigns. MFW Baltyk II and MFW Baltyk III are 50-50 joint ventures between Equinor and Polenergia, which collectively boast a total installed capacity of 1.44 GW. Per the company's statement, these two projects are among the largest and most advanced
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