Spanish debt-ridden firm awarded Kincardine floating wind unit deal

Kincardine Offshore Windfarm towed out past Aberdeen and Stonehaven.
Kincardine Offshore Windfarm towed out past Aberdeen and Stonehaven.

Kincardine Offshore Windfarm has awarded Spanish state-owned firm Navantia a deal to construct five offshore wind floating foundations.

The deal has been awarded to Navantia through Cobra Wind International, a subsidiary firm of Cobra International Services.

The Kincardine project is located nine miles off the coast of Aberdeen.

The structures will be constructed at Navantia’s Fene yard in Spain before being transported to the Aberdeen site.

Construction work will begin in May with fabrication and assembly to take place in April 2020.

In a release Navantia said the deal consolidates its “position as market leader in floating foundations” after it took on a similar contract for the Hywind Scotland project off the coast of Peterhead.

Spanish state-owned firm Navantia was named last year as one of the firms in the running for the Moray East project’s fabrication contract.

However, it was revealed by Energy Voice the firm had reported almost £850 million in losses since 2005, an average of £70 million each year.

Known mainly as a builder of high-tech military and civil ships, Navantia is run under the fiscal control of Spain’s finance ministry.

The state-owned firm has made over £350m government-backed loss since 2015.

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