Seaway 7 signed Letter of Exclusivity for East Anglia THREE Offshore Wind Farm

Seaway 7 signed Letter of Exclusivity for East Anglia THREE Offshore Wind Farm

16 Jun 2022 08:15 CEST

Oslo - 16 June 2022 at 08:15 CET - Seaway 7 ASA (Euronext Growth: SEAW7) is
pleased to announce that it has signed a Letter of Exclusivity towards
finalisation of a Preferred Bidder Supply Chain Agreement, with ScottishPower
Renewables for the East Anglia THREE offshore wind project.

East Anglia THREE is located around 70 km offshore the UK in the southern North
Sea and forms one of three consented offshore wind farm developments, termed the
East Anglia Hub, planned by ScottishPower Renewables. East Anglia THREE will
contribute approximately 1,400 MW of a potential 3,000 MW of renewable energy
generation capacity at East Anglia Hub.

Seaway 7's scope of work will include the transport and installation of 95
monopile foundations, associated seabed preparation and scour protection along
with the engineering, supply and installation of the inner-array cables.
Execution of the scope will be led from Seaway 7's Aberdeen office.

The project is expected to commence early works in 2022 with offshore work
commencing in 2024, subject to East Anglia THREE securing a final investment
decision by ScottishPower Renewables.

Once executed, East Anglia THREE will represent a very large (1) contract
agreement. The contract will not be recognised in Seaway 7's backlog until a
final investment decision has been secured.

Stuart Fitzgerald, CEO Seaway 7, said: "We are pleased to support ScottishPower
Renewables to progress the East Anglia THREE project. Seaway 7 are looking
forward to bringing over 10 years of offshore wind experience to one of the
world's largest offshore wind complexes, representing a significant contribution
to the UK's renewable target."

(1)"Very large" Contracts are between $500m and $750m.

-Ends-

Contact for investment community enquiries:
Stuart Fitzgerald
Tel +47 911 89 669

Mark Hodgkinson
Tel +44 7788 316 501
[email protected]

About Seaway 7
Seaway 7 is a global leader in the delivery of fixed offshore wind projects,
committed to contributing to an efficient and sustainable energy supply for the
future.

Seaway 7 is listed on Oslo's Euronext Growth (SEAW7).

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.

The stock exchange announcement was published by Stian Lysaker, Treasurer in
Seaway 7 ASA, at the date and time as set out above.

More information:
Access the news on Oslo Bors NewsWeb site

Source

Seaway 7 ASA

Provider

Oslo Børs Newspoint