Aker Solutions has received the final ruling from an arbitration tribunal in Germany in the case concerning the Nordsee Ost offshore wind project for which Kværner, now part of Aker, delivered jacket foundations.
“The ruling entitles Aker Solutions to receive a recoverable cash amount of approximately EUR 67 million, of which approximately EUR 23 million relates to interest. This amount and the financial effects thereof will be recognized in Aker Solutions’ accounts when final payment has been received, expected to take place in the near term” , Aker Solutions said in a press release on 5 March.
Kværner initiated arbitration proceedings in 2012 , seeking compensation for various changes to the work scope for the Nordsee Ost offshore wind farm.
The company, which merged with Aker Solutions last year, was contracted by RWE (RWE Innogy at the time) to deliver 48 wind turbine- and one substation jacket foundation for the German project. Kværner completed the delivery in 2013.
Aker Solutions and Kværner entered into a merger plan to create an optimised supplier company in June 2020. The merger included Aker Solutions taking over all Kvaerner’s assets, rights and obligation, and Kværner being dissolved as a result.
The 295 MW Nordsee Ost, operational since May 2015, comprises 48 Senvion 6 MW wind turbines. The wind farm, some 35 kilometres north of Helgoland, can provide enough electricity to cover the needs of some 320,000 average German households.