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Seatrium Limited ( (SG:5E2) ) has shared an announcement.
Seatrium Limited, in collaboration with GE Vernova, has secured a significant contract from TenneT to develop the BalWin5 offshore grid connection. This project, a 2.2-gigawatt HVDC grid connection, will transmit electricity from offshore wind farms in the German North Sea to Germany’s onshore network, supporting the country’s energy transition and climate goals. The project is expected to power approximately 2.75 million households, marking a crucial step in enhancing Germany’s electricity infrastructure and energy security. This contract is part of a broader five-year Framework Cooperation Agreement with TenneT and represents the consortium’s first win for TenneT’s German 2 GW projects. GE Vernova will deliver the HVDC technology and converter stations, while Seatrium will handle the design, construction, and installation of the offshore converter platform.
The most recent analyst rating on (SG:5E2) stock is a Buy with a S$2.96 price target. To see the full list of analyst forecasts on Seatrium Limited stock, see the SG:5E2 Stock Forecast page.
More about Seatrium Limited
Average Trading Volume: 11,424,647
Technical Sentiment Signal: Sell
Current Market Cap: S$7.13B
For a thorough assessment of 5E2 stock, go to TipRanks’ Stock Analysis page.