Helix Energy Solutions Group HLX has announced that its robotics unit, Helix Robotics Solutions, has secured a contract from Seaway7, a part of Subsea7 SUBCY, for the burial of inter-array cables for an offshore wind farm. The cables will be buried at the Hornsea 3 Offshore Wind Farm operated by the renewable energy giant, Ørsted.
Per the terms of the contract, Helix Robotic Solutions will handle the burial of all 192 inter-array cables at the offshore windfarm. These cables have an approximate length of 500 kilometers. The duration of the contract is expected to be over 300 days. It is scheduled to start in the September quarter of 2026. The project management, along with engineering and survey support, will be handled by Helix’s offices in Aberdeen, UK.
For this project, Helix plans to deploy the Grand Canyon III trenching support vessel. The vessel is equipped with advanced subsea trenching technology, including the T1500 jet trencher and the i-Trencher trenching system. Additionally, the company will utilize a work-class remotely operated vehicle for real-time monitoring and intervention during the burial process. It will also provide the necessary survey services associated with this project.
Seaway7 was awarded the contract for the installation and transportation of inter-array cables for the Hornsea 3 offshore wind farm in October 2024. The windfarm is situated approximately 120 kilometers off the coast of Norfolk in the UK. The construction of the Hornsea 3 offshore wind farm is expected to be completed by 2027. The windfarm consists of 231 wind turbines with a total capacity of 2.9 GW.
Helix mentioned that the deal with Seaway7 is one of the most significant trenching contracts, enabling it to support the development of offshore wind farms in the United Kingdom. The contract also highlights Helix’s expansion into renewable energy.
HLX currently carries a Zacks Rank #4 (Sell), while SUBCY carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are Sunoco LP SUN and Archrock Inc. AROC. Sunoco currently sports a Zacks Rank #1 (Strong Buy), while Archrock carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Sunoco LP is one of the largest distributors of motor fuel in the United States. The partnership distributes fuel to independent dealers, commercial customers, convenience stores and distributors. Its current distribution yield is greater than that of the industry's composite stocks, providing unitholders with consistent returns.
Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Sunoco LP (SUN) : Free Stock Analysis Report
Helix Energy Solutions Group, Inc. (HLX) : Free Stock Analysis Report
Subsea 7 SA (SUBCY) : Free Stock Analysis Report
Archrock, Inc. (AROC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。