Financial News - 23 MAR 2010: Keppel Corp bags first major newbuild contract for German offshore wind farm

Keppel bags first major newbuild contract for German offshore wind farm. See report.

Key Points

• Keppel Verolme BV (Keppel Verolme) and consortium partner AREVA Energietechnik GmbH, a German subsidiary of French energy company AREVA, have secured a EUR 62 million (S$117.6 million) contract from Wetfeet Offshore Windenergy GmbH (Wetfeet Offshore) to build a Mobile Offshore Application Barge (MOAB) for a new offshore wind farm in the German Exclusive Economic Zone in the North Sea.
• Marks Keppel’s successful entry into the offshore wind energy business.
• The vessel is targeted for completion in the fourth quarter of 2011.