Iberdrola Taps ABL for MWS Services on German Offshore Wind Project [Yahoo! Finance]
IBERDROLA SA S/ADR (IBDRY)
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Source: Yahoo! Finance
Iberdrola hired ABL to provide these services for its Windanker offshore wind farm, located 25 kilometers offshore Germany in the Baltic Sea. Per the terms of the contract, ABL will be responsible for the offshore transportation and installation of critical parts, including foundations, inter-array cables and wind turbine generators. ABL will also offer specialized technical reviews, followed by the approval of necessary documents. The scope of work also outlines that ABL will review and approve the operational processes and vessels associated with the assets used in the offshore wind project. ABL defines the contract as a ‘sizeable' one, implying that its value lies in the range of $1-$3 million. However, the exact financial details of the deal were not disclosed. The Windanker wind farm is expected to have a total capacity of 315 megawatts (MW), comprising 21 turbines, each with a capacity of 15 MW. The offshore installation activities are likely to be executed between 2025 an
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