Aker Solutions ASA: Aker Solutions Awarded Contract for BalWin 1 Offshore Wind Project

OSLO, Feb. 10, 2025 - Aker Solutions has signed a significant¹ contract with Dragados Offshore to deliver the steel substructure for the 2GW HVDC converter station for the BalWin1 offshore wind grid connection system in Germany, for Amprion Offshore GmbH. The contract also includes an option for the BalWin 2 steel substructure.

Each of the BalWin 1 and BalWin 2 grid connection systems consist of a 2.0 Gigawatt HVDC offshore and onshore substation for the transmission of renewable electrical energy. Amprion Offshore GmbH is the transmission system operator responsible for these systems. With a total transmission capacity of 4 GW, the Balwin 1 and 2 projects can supply enough electricity to power a major city like Berlin.

"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," said Sturla Magnus, Executive Vice President for Aker Solutions' New Build segment.

Fabrication of the HVDC substructures will be executed by Aker Solutions' yard in Verdal, Norway. At its peak, the project will employ over 500 people. For Aker Solutions, the scope involves procurement, method engineering and construction of the offshore HVDC converter platform substructures. Preparation for procurement and method engineering will commence immediately, while construction is scheduled to begin in early 2026, with deliveries in 2028 and 2029.

Aker Solutions will book the award, excluding option value, as order intake in the first quarter of 2025 in the Renewables and Field Development segment.

¹Aker Solutions defines a `significant' contract as being between NOK 1.5 billion and NOK 2.5 billion

CONTACT:

Preben Ørbeck
investor relations
preben.orbeck@akersolutions.com
+47 470 10 611

Hallvard Norum
media contact
hallvard.norum@akersolutions.com
+47 913 80 820

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