Siemens Energy signs 7 billion euro offshore power deal with TenneT

 (Reuters) – Siemens Energy (ENR1n.DE) has won contracts worth almost 7 billion euros ($7.68 billion) as part of a consortium with Spain’s Dragados Offshore (ACS.MC) to transport wind farm power to northern Germany, the German company announced on Thursday.

Under the deal with Dutch electric grid company TenneT (IPO-TTH.AS), the companies will supply technology for three offshore grid connections in the North Sea, Siemens Energy said in a statement.

The grid connections, named BalWin3, LanWin2, and LanWin4, will transport a total of of 6 gigawatts (GW) onshore using high-voltage direct current (HVDC) transmission technology, according to the statement.

According to industry sources, the contract sum is to be divided equally between Siemens Energy and Dragados Offshore.

Siemens Energy is to manufacture the main electrical components at its factories in Europe, while Dragados Offshore will be responsible for the construction and installation of the platforms, perched on stilts near the wind farms.

Late last month, TenneT awarded 11 contracts worth a total of 23 billion euros to connect North Sea wind farms to the grid. These went to consortia led by Hitachi Energy (6501.T) and General Electric .

($1 = 0.9116 euros)

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