11.09.12 | Press

Butendiek Contract Renewed

Butendiek

On 1st September 2011 VSMC GmbH signed a contract with Butendiek OWF GmbH & Co. KG for the design, manufacturing, supply, installation, termination and testing of the 33kV Inter-Array Cabling for the BUTENDIEK Offshore Windfarm.

This windfarm is located in the German Bight close to the Isle of Sylt and consists of 80 WTGs. The cables were to be supplied by DRAKA and to be installed in the 3rd quarter of 2013.

 

The project was "project-financed" and thus subject to a financial close, i.e. an agreement between the customer, the equity partners and the banks for the financing of the project.

 

Due to various reasons the milestone for the financial close, initially 31st December 2011 and later 29th February 2012, was not achieved and the project was postponed by one year. VSMC and the customer decided to terminate the contract and simultaneously to start negotiations on a  renewed contract  for installation of the cables in the 3rd quarter of 2014.

 

These negotiations were successfully finalized last week and have resulted in the NEW CONTRACT.

Despite the one year delay, we look forward to a fruitful co-operation with this new customer.

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