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IN BRIEF: InfraStrata Signs Letter Of Intent To Build Two Windfarms

Thu, 10th Dec 2020 14:42

InfraStrata PLC - UK-based strategic infrastructure projects company - Announces it has signed a letter of intent with British technology company Triumph Subsea Services Ltd to build two windfarm development vessels, which will be 200 metres in length and have a beam of 35 metres. The letter of intent will see InfraStrata's subsidiary Harland & Wolff Belfast Ltd responsible for the build, assembly and delivery of the vessels to Triumph.

InfraStrata said the the vessels will not only be used for fixed and floating wind farm installations, but will also be capable of sub-sea cable laying and providing marine services for offshore carbon capture and green hydrogen projects. Once contracted, each vessel would be expected to generate revenue for Harland & Wolff of between GBP340 million and GBP360 million over the 24 to 30 month period of fabrication, followed by additional revenues if further contracts are secured, it said.

Current stock price: 48.95 pence

Year-to-date change: up 50%

By Zoe Wickens; zoewickens@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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