Contract Award re Dogger Bank C

RNS Number : 5434K

Tekmar Group PLC

22 December 2022

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.   Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.

TEKMAR GROUP PLC

("Tekmar Group", the "Company" or the "Group")

Contract Award re Dogger Bank C

Tekmar Group (AIM: TGP), a leading provider of technology and services for the global offshore energy markets, is pleased to announce that DEME Offshore has awarded the contract to supply Cable Protection Systems (CPS) for the third phase of Dogger Bank C Wind Farm in the UK to Tekmar.

Under the scope for the Dogger Bank C phase, the Company will design, manufacture and supply a further 172 CPS. This follows the existing contract with EPCI contractor DEME Offshore to supply 380 CPS to protect subsea array cables on Dogger Bank A and B project phases. The combined contract value across the Dogger Bank Wind Farm represents Tekmar's largest CPS supply contract to date. 

Dogger Bank is a 3.6GW offshore wind farm located 130km off the North East coast of England. The project is a joint venture between SSE Renewables, Equinor and Vårgrønn and is set to become the world's largest offshore wind farm, capable of generating enough renewable energy to power six million UK homes once fully operational.

All systems will be manufactured at Tekmar's state-of-the-art facility in the North East of England which is located less than 50km from Dogger Bank's export cable landfall site in Teesside. The first systems for the Dogger Bank C phase of the project are expected to be delivered in Q3 2024, with production continuing into 2025.

The project is benefiting from Tekmar Group's unique engineering capability and extensive industry experience, with Tekmar Energy working with sister companies Subsea Innovation, AgileTek Engineering and Ryder Geotechnical to design a holistic cable protection solution that is engineered to overcome the wind farms challenging site conditions.

Alasdair MacDonald, CEO of Tekmar Group, said: "We are delighted to receive the award for Dogger Bank C which reflects the hard work of the team and collaboration with DEME on the Dogger Bank project to date. It is testament to our in-house engineering capabilities, which enable us to present solutions to customers' complex engineering challenges and optimise and de-risk projects. We look forward to continuing to work closely with DEME Offshore to deliver this project".

Enquiries:

Tekmar Group plc Alasdair MacDonald, CEO Leanne Wilkinson, Interim CFO	[phone]
Singer Capital Markets (Nominated Adviser and Joint Broker) Rick Thompson Alex Emslie	[phone]
Berenberg (Joint Broker) Chris Bowman / Ben Wright / Ciaran Walsh	[phone]
Bamburgh Capital Limited (Financial PR & Investor Relations) Murdo Montgomery	[phone]

The person responsible for arranging for the release of this announcement on behalf of Tekmar is Leanne Wilkinson, Interim Chief Financial Officer. 

About Tekmar Group plc  

Tekmar Group plc (LON: TGP) collaborates with its partners to deliver robust and sustainable engineering led solutions that enable the world's energy transition.

Through our Offshore Energy and Marine Civils Divisions we provide a range of engineering services and technologies to support and protect offshore wind farms and other offshore energy assets and marine infrastructure. With nearly 40 years of experience, we optimise and de-risk projects, solve customers' engineering challenges, improve safety and lower project costs. Our capabilities include geotechnical design and analysis, simulation and engineering analysis, bespoke equipment design and build, subsea protection technology and subsea stability technology. 

We have a clear strategy focused on strengthening Tekmar's value proposition as an engineering solutions-led business that offers integrated and differentiated technology, services and products to our global customer base.

Headquartered in Darlington, UK, Tekmar Group has an extensive global reach with offices, manufacturing facilities, strategic supply partnerships and representation in 18 locations across Europe, Africa, the Middle East, Asia Pacific and North America.

For more information visit: www.tekmargroup.com

 

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