Lamprell is set to make incremental investments in equipment and operational set-up at its Hamriyah facility in the United Arab Emirates (UAE) due to a growing number of planned offshore wind projects.
According to Lamprell, the decision comes as a number of significant offshore wind projects are expected to be sanctioned over the coming 5-10 years.
The improvements are expected to help make the company more competitive when bidding on new renewable energy projects and ensure better control throughout the execution process.
Lamprell announced the plan in its financial results for the first half of 2019, in which the company reported that the early phases of the Moray East and completion of the East Anglia One offshore wind projects constituted 53% of the revenues.
The two projects together contributed USD 56.9 million, with Moray East expected to bring a stronger revenue generation in the second half of the year.
The 950MW offshore wind project is progressing safely, in line with budget and schedule, the UAE-based company said, adding that welding works are now well underway.
“In the first half of 2019 we completed fabrication and assembly of the foundations for the East Anglia One project. We have embedded the lessons learned from that first offshore wind farm project and successfully commenced fabrication on our second renewables project as planned,” said Lamprell CEO Christopher McDonald .
“Despite delays in a number of core strategic opportunities and the ongoing market uncertainties, we continue to see a good flow of bidding activity from Saudi Arabia, the UAE and in the renewables sector.”
The 714MW East Anglia One offshore wind farm recently generated its first power offshore Suffolk, UK. Discussions on the commercial close of the project are currently taking place.