AvH: DEME adds Zeevonk turbines to its offshore schedule

On 14 October, DEME announced a contract to transport and install 69 turbines at the Zeevonk offshore wind farm in the Netherlands. It places the agreement in a €50m to €150m range, subject to the project’s final investment decision.

The Norse Energi vessel is due to mobilise in 2028, with completion in 2029. The timetable provides visibility on fleet deployment before execution and profitability can be assessed.

AvH owned 62.12% of DEME at 30 June, making the connection material. DEME contributed €132.3m to AvH’s €339.6m half-year profit, approximately 39%. This contract represents future subsidiary activity, rather than immediate cash for the holding company.

The turbine agreement is separate from the foundation contract announced in July. The values and scopes should not be conflated. The final investment decision date and margin on the new contract are not disclosed.