Siemens Lands $847M Statoil Wind Turbine Contract

Law360, New York (January 14, 2014, 1:25 PM EST) -- Statoil ASA has awarded Siemens PLC an $847 million contract to build 67 offshore wind turbines for the Dudgeon wind farm off the coast of Norfolk, England, Statoil said Tuesday.

Siemens, which makes turbines used around the world, will design, build and install the 6-megawatt generators for a total output of 402 megawatts. The companies said that the first turbines will begin being installed by 2017, while engineering work will start this month.

"Technology development is fundamental to optimizing offshore wind industry costs and solutions, and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.