- Equinor and BP announced an agreement with the New York State Energy Research and Development Authority (NYSERDA) to terminate the Offshore Wind Renewable Energy Certificate (OREC) Agreement for Empire Wind 2 (EW2), an offshore wind farm substation in the US with potential generative capacity of 1,260MW.
Macro factors caused cancellation
- - Read this at SGinvestors.io -
- Seatrium (SGX:S51) was affected accordingly and announced that its contract to build EW2 (contract value of more than S$250m) is being cancelled.
About EW1 & EW2
- Seatrium was awarded two offshore windfarm substation platforms Empire Wind 1 (EW1) and Empire Wind 2 (EW2) by Equinor and BP in May 23.
- - Read this at SGinvestors.io -
Seatrium's EBIT to reduce by S$20m-30m
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
LIM Siew Khee CGS-CIMB Research | https://www.cgs-cimb.com 2024-01-04
Read also CGS-CIMB's most recent report:
2024-01-30 Seatrium - Toning Down Our Profit Expectations.
Price targets by 4 other brokers at Seatrium Target Prices.
Listing of research reports at Seatrium Analyst Reports.
Relevant links:
Seatrium Share Price History,
Seatrium Announcements,
Seatrium Dividends & Corporate Actions,
Seatrium News Articles
