Abu Dhabi's National Petroleum Construction Company, which is wholly owned by National Marine Dredging Company, secured a $99 million contract from Taiwan's Yunneng Wind Power for work on the territory's biggest offshore wind farm project.
The contract is for the installation of monopiles — the most advanced type of foundation for the construction of offshore wind turbines — for the Yunlin farm, NPCC said in a filing on Monday to the Abu Dhabi Securities Exchange, where its shares are traded. The company did not provide further details.
Demand for renewable energy resources has risen as the world tackles major environmental issues, most notably climate change and global warming.
The growth of renewable capacity is projected to accelerate in the next five years, accounting for almost 95 per cent of the increase in global power capacity through 2026, the International Energy Agency said in a recent report.
Wind energy capacity reportedly trails only the solar photovoltaic industry in terms of renewable energy expansion. Total offshore wind capacity is estimated to be more than triple by 2026, with global capacity additions set to hit 21 gigawatts, the agency in Paris said.
By then, offshore wind additions are expected to account for one fifth of the global wind market, which would be a "major milestone", it said.
The Yunlin offshore project — developed at a reported cost of $3 billion — is being built in the Taiwan Strait, eight to 17 kilometres off the west coast of Taiwan, at depths of 7 to 35 metres, its website says.
It spans 82 square kilometres and comprises 80 wind turbine generators with a capacity of 640 megawatts, which will be fed into the power grid using two onshore substations at Yunlin County's Taixi and Sihu townships.
In January, NPCC was awarded a $2.23bn contract by Saudi Aramco, the world's top oil-exporting company, for work related to the Zulf marine field in the kingdom.
This follows a number of deals won by NPCC in 2021, including a $744m contract from Abu Dhabi National Oil Company to develop the offshore Belbazem block to boost its light crude production capacity to 45,000 barrels per day.
The company also signed agreements with Egypt’s Petroleum Projects and Technical Consultations and France's Technip Energies to explore industrial opportunities in the UAE and wider Middle East and North Africa region.
In December, NMDC won a Dh1.3bn ($353.9m) contract from Abu Dhabi Ports for work related to the Shamal Development marine project.
NPCC merged with NMDC in 2021 and operates in the Arabian Gulf, South Asia and South-east Asia. It has plans to expand to Africa and the Caspian region. The company also owns a fleet of 23 offshore vessels with modern equipment to support its shallow and deep-water operations in the oil and gas sector.