SMart Wind & Mainstream Renewable Power sign £60m Geo-tech agreement with Fugro
First contract of its size in wind industry set to make significant cost reductions
SMart Wind (a joint venture between Mainstream and Siemens Project Ventures) & Mainstream Renewable Power today announced the signing of a five year framework agreement with Fugro Geoconsulting Ltd. to carry out detailed Geotechnical studies at three offshore wind projects in Europe. The agreement is estimated to cost up to £60 million and by contracting for all three projects together, the companies expect to make significant savings on the geotechnical costs.
The detailed Geotechnical work, which excludes onshore and cable route studies, is due to commence this summer at SMart Wind’s 4,000MW Hornsea zone off the east coast of England and early next year at Mainstream’s 450MW Neart na Gaoithe project in Scotland. The studies are due to commence in 2012 at Mainstream’s 1,000MW Horizont project in German waters.
Andy Kinsella, CEO of Mainstream’s Offshore business and Chairman of SMart Wind commented: “This is another first for Mainstream and Smart Wind. We’re fully committed to reducing the Cost of Energy and not only are we making significant savings on this agreement; we are also ensuring vessel availability by thinking strategically and working in partnership with the world’s premier Geoscience survey company, Fugro.”
Dr. Wolfgang Bischoff, CEO of Siemens Project Ventures at Siemens Financial Services, who is also the Vice Chairman of SMart Wind said:" We are very happy to see that SMart Wind is moving forward on the right track. This contract further demonstrates our commitment for a sustainable and green future."
Pat Power,Managing Director of Fugro GeoConsulting Ltd, replied : "We are delighted to have been awarded this contract by Mainstream and Smart Wind and look forward to developing the partnership . We are convinced that our resources, skills and experience will enable us to make a significant contribution to Mainstream and Smart Wind's goal of reducing costs on these projects.
Part of our contribution to the significant reduction in projected Geotechnical costs has been achieved through our ability to optimise the utilisation and scheduling of resources such as drilling vessels and testing laboratories over the next five years, to our and Smart Wind's and Mainstream benefit. The cumulative knowledge of site conditions we will also develop will enable us to assist in the optimisation of reliable foundation solutions. "