Aker Solutions ASA: A Major Step in Europe's Energy Transition with BalWin 1 Offshore Wind Project

Aker Solutions ASA, a leading provider of engineering and construction services to the global energy industry, has taken a significant stride in Europe's energy transition by securing a major contract for the BalWin 1 offshore wind project. The contract, valued between NOK 1.5 billion and NOK 2.5 billion, is a testament to Aker Solutions' commitment to expanding its activities in renewables and low-carbon projects.

The BalWin 1 project involves the delivery of a steel substructure for a 2GW HVDC converter station, which will facilitate the transmission of renewable electrical energy from offshore wind farms to the onshore grid. The project, led by Amprion Offshore GmbH, the transmission system operator, has the capacity to supply enough electricity to power a major city like Berlin. Aker Solutions will fabricate the HVDC substructures at its yard in Verdal, Norway, employing over 500 people at its peak.



Sturla Magnus, Executive Vice President for Aker Solutions' New Build segment, expressed his enthusiasm about the project, stating, "We are proud that Dragados Offshore has selected Aker Solutions as the contractor for the BalWin 1 steel substructure. We have over decades developed substantial expertise and track record for delivering predictable execution of demanding projects. The new contract is aligned with our strategy to grow our activities within renewables and low-carbon projects."

The BalWin 1 project presents several challenges and opportunities for Aker Solutions. The project requires predictable execution of demanding projects, which Aker Solutions has developed substantial expertise and track record for over decades. Additionally, the project aligns with Aker Solutions' strategy to grow its activities within renewables and low-carbon projects, reinforcing its position as a leader in sustainable energy solutions.



The contract includes an option for the BalWin 2 steel substructure, presenting an opportunity for further growth and expansion in the project. The project is expected to contribute positively to Aker Solutions' revenue and earnings growth, supporting the company's positive financial outlook.

In conclusion, the BalWin 1 offshore wind project is a significant milestone for Aker Solutions, demonstrating the company's commitment to Europe's energy transition and its strategic focus on expanding its activities in renewables and low-carbon projects. The project presents both challenges and opportunities, which Aker Solutions is well-positioned to address with its extensive experience and expertise in delivering demanding projects. The project is expected to contribute positively to Aker Solutions' financial performance, supporting the company's overall growth and success in the renewable energy sector.