Siemens Wins Dudgeon Offshore Windfarm Deal

---

GALWAY, IRELAND--September 1, 2014 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) - German engineering company Siemens AG (NYSE:SI) (Munich, Germany) has won the contract to supply turbines for the 402-megawatt (MW) Dudgeon offshore windfarm in the U.K..

The news comes six weeks after Norwegian companies Statoil ASA (NYSE:STO) (Stavangar, Norway) and Statkraft AS (Oslo, Norway) agreed to go ahead with the £1.5 billion ($2.55 billion) project. For additional information, see July 17, 2014, article - Dudgeon Offshore Windfarm in U.K. Goes Ahead.

Located 32 kilometers (km) offshore, north of the town of Cromer in North Norfolk, and 20km northeast of the existing Sheringham Shoal offshore windfarm, Dudgeon will feature 67 of Siemens' direct-drive wind turbines rated at 6 MW each and equipped with a 154-meter rotor. Installation will start in early 2017. The combined value including a five-year-service contract is approximately €650 million ($856 million).

Dudgeon is owned by Statoil (70%) and Statkraft (30%). Construction will start with the laying of onshore cables and building an onshore substation followed by turbine installation in 2017. On commissioning in 2017 it will be capable of supplying enough power for approximately 410,000 homes.

Dr. Markus Tacke, CEO of the Wind Power Division of Siemens Energy, commented: "With Dudgeon we extend our project pipeline for this new direct drive turbine. This gives us the opportunity to further ramp up production capacity, which is a precondition to bring down the costs for offshore wind."

Earlier this month, Siemens clinched another large offshore deal to supply 72 of its SWT-4.0-130 model turbines, rated at 4 MW each, for the 288 MW Sandbank windfarm located in the German North Sea. The €1.2 billion ($1.6 billion) project, owned 50:50 by Swedish energy company Vattenfall (Stockholm, Sweden) and Germany utility Stadtwerke München (Munich, Germany), is their second joint venture windfarm in the North Sea. For additional information, see August 15, 2014, article - Vattenfall Commits to €1.2 Billion German Offshore Windfarm.

Dudgeon was one of a group of eight renewable energy projects that recently signed the first contracts under the U.K. government's new subsidy scheme, known as Contracts for Difference (CfD). CfD guarantees prices for electricity generated by the projects and Dudgeon has become the first of those eight projects to make a final investment decision. For additional information, see June 12, 2014, article - U.K. Pricing Deal for 4,500 MW of Green Power.

View Project Report - 78000407 300077457

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the Industrial Info "Contact Us" page.