Petrofac, Hitachi Energy Awarded Second Contract Under Framework Agreement With TenneT

(RTTNews) - Petrofac (POFCF.PK, POFCY.PK, PFC.L) and Hitachi Energy announced the award of the second contract under the $14 billion, Framework Agreement with TenneT to expand offshore wind capacity in the North Sea. Petrofac's portion of the second contract is valued at around $1.4 billion.

Petrofac and Hitachi Energy will work together to deliver Nederwiek 1, a Dutch transmission station which forms part of TenneT's landmark 2 Gigawatt Programme, comprising several high-voltage direct current offshore grid connection systems, each with a transmission capacity of 2 gigawatts.