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Luxembourg . 18 April 2019 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, ISIN LU0075646355) today announced Seaway 7 has been selected by Vattenfall as one of its partners for the Hollandse Kust Zuid (HKZ) 1 & 2 offshore wind farm project. Seaway 7.s envisaged scope of work includes the transport and installation of 76 monopile foundations and the laying of the inter-array cables and will be led from Seaway 7.s main office in the Netherlands. The contract award value related to this project will not be recognised in Subsea 7.s Group backlog until final contractual terms have been agreed.
The HKZ 1 & 2 wind farm is being developed by Vattenfall as the first subsidy-free wind farm in the Netherlands and is located approximately 30 km from the coast in the North Sea. Once fully operational, HKZ 1 & 2 will be capable of supplying 760 MW which will be enough to meet the electricity needs of approximately 1 million - 1.5 million households.
In addition, Seaway 7 has been chosen as one of Vattenfall.s partners for the ongoing tender for the HKZ 3 & 4 offshore wind farm. This would add 76 monopiles and associated array cables to the programme of work, if this development is awarded to Vattenfall by the Dutch Government.
The integrated offshore installation activities for both the HKZ 1 & 2 and HKZ 3 & 4 wind farm projects are planned to be executed in 2022 using Seaway 7.s heavy lift and cable lay vessels, subject to the award of HKZ 3 & 4 to Vattenfall and pending Vattenfall.s Final Investment Decision.
Steph McNeill, SVP Subsea 7 Renewables & Heavy Lifting, said: .We look forward to working collaboratively with Vattenfall as a trusted partner to support the installation of the Hollandse Kust Zuid wind farms and help to deliver the first zero-subsidy offshore wind projects in the Netherlands…
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Subsea 7.s Renewables and Heavy Lifting business unit is an experienced partner for the delivery of offshore wind farm projects and specialist heavy lifting and cable-lay services, operating under the Seaway 7 brand.
Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry.s partner and employer of choice in delivering the efficient offshore solutions the world needs.
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Contact for media enquiries:
Angela Diergaarde
Communication & PR Manager
Subsea 7 Renewables & Heavy Lifting
Mobile +31 6 102 469 43
[email protected]
www.seawayheavylifting.com / www.seawayoffshorecables.com
Contact for investment community enquiries:
Isabel Green
Investor Relations Director
Tel +44 20 8210 5568
[email protected]
www.subsea7.com
Forward-Looking Statements: Certain statements made in this announcement may include .forward-looking statements… These statements may be identified by the use of words like .anticipate., .believe., .could., .estimate., .expect., .forecast., .intend., .may., .might., .plan., .predict., .project., .scheduled., .seek., .should., .will., and similar expressions. The forward-looking statements reflect our current views and are subject to risks, uncertainties and assumptions. The principal risks and uncertainties which could impact the Group and the factors which could affect the actual results are described but not limited to those in the .Risk Management. section in the Group.s Annual Report and Consolidated Financial Statements 2018. These factors, and others which are discussed in our public announcements, are among those that may cause actual and future results and trends to differ materially from our forward-looking statements: actions by regulatory authorities or other third parties; our ability to recover costs on significant projects; the general economic conditions and competition in the markets and businesses in which we operate; our relationship with significant clients; the outcome of legal and administrative proceedings or governmental enquiries; uncertainties inherent in operating internationally; the timely delivery of vessels on order; the impact of laws and regulations; and operating hazards, including spills and environmental damage. Many of these factors are beyond our ability to control or predict. Other unknown or unpredictable factors could also have material adverse effects on our future results. Given these factors, you should not place undue reliance on the forward-looking statements.
Attachment
SUBC Vattenfall HKZ partnership F
http://www.netfonds.no/quotes/release.php?id=20190418.GlobeNewswire.GNW1000178436-en
