Keppel O&M enters framework deal with Orsted on potential offshore substation projects

Singapore five-dollar note Photo by Leslie Shaffer

Keppel Offshore and Marine’s wholly owned subsidiary Keppel FELS has entered a framework agreement with Orsted to streamline the process of taking up potential future offshore substation (OSS) projects, Keppel said in a filing to SGX Tuesday.

The deal follows Keppel O&M’s recent completion of its first project for Orsted in Singapore in September, the filing said, noting the project involved two OSS for Taiwan’s Greater Changhua 1 & 2a offshore wind farms.

“We are pleased that Ørsted, the world’s biggest offshore wind developer, has signed a framework agreement with us so we can provide value-added solutions for the long term,” Chris Ong, CEO of Keppel O&M, said in the statement. “We look forward to strengthening our
partnership with Ørsted as we grow our track record in delivering innovative and costefficient solutions for the offshore wind industry.”

Keppel O&M has been actively expanding in the offshore renewable energy segment, the filing said.

In addition to delivering the two OSS to Orsted for the Taiwan Strait wind farms, it is also building an offshore HVDC converter station for TenneT for offshore wind farms in Germany’s North Sea sector, the filng said.

Keppel has also landed a contract to build two OSS for a renewable energy company and is building its first wind turbine installation vessel in the U.S. for Dominion Energy, the filing said.