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    TSM1T   EE3100021635

AS TALLINNA SADAM

(TSM1T)
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Delayed Nasdaq Tallinn  -  08:59 2022-09-23 am EDT
1.400 EUR    0.00%
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AS Tallinna Sadam : Port of Tallinn and Sunly agreed on cooperation in offshore wind

07/08/2022 | 02:54am EDT

Port of Tallinn and Sunly have signed a Memorandum of Understanding with the goal of realizing offshore wind energy in the Baltic States and creating maximum local knowledge and business opportunities during the development, installation as well as operation and maintenance of Sunly's offshore wind farms.

Sunly is developing offshore projects at West of Saaremaa and North of Hiiumaa island in Estonia and has ambition to develop offshore wind energy also in Latvia and Lithuania.

Port of Tallinn recently decided to invest up to EUR 53 million to build a new 310-meter quay with a 10-hectare area beyond the quay in Paldiski South Harbour. The quay and hinterland area will be completed in summer 2025.

"Ports are playing an important role in the installation and maintenance of offshore wind farms. So, we are very happy to have opportunities to produce concrete gravity foundations for wind turbines in Paldiski and use the port for installation works," said Erkki Kallas, the Head of Development & Production and Member of Sunly's Management Board.

Kallas added that Sunly also considers Saaremaa Harbour as its maintenance base and vessel MPSV Botnica for its surveys - both belonging to the Port of Tallinn.

Valdo Kalm, the CEO of the Port of Tallinn has said previously that due to the favorable location of Paldiski South Harbour, the construction of the new quay will create preconditions for Port of Tallinn to become an important partner in the construction and subsequent maintenance of offshore wind farms in the Baltic Sea region. "The new quay will ensure the capacity of the port to receive high-draft special-purpose vessels for the construction of offshore wind farms and the transport of wind turbine components." commented Kalm.

The large rear area beyond the new quay allows various preparations for the manufacture and storage of generators and wind turbine blades before being loaded on a ship. In addition, the new quay can be used to service ro-ro vessels if required.

More info:

Erkki Kallas
Head of Development & Production, Member of the Sunly Management Board

Tel: +372 507 4940

Disclaimer

Tallinna Sadam AS published this content on 08 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 July 2022 06:53:08 UTC.


© Publicnow 2022
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Financials
Sales 2022 114 M 111 M 111 M
Net income 2022 - - -
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 5,52%
Capitalization 368 M 358 M 358 M
Capi. / Sales 2022 3,23x
Capi. / Sales 2023 3,09x
Nbr of Employees 464
Free-Float 32,9%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 1,40 €
Average target price 2,14 €
Spread / Average Target 52,9%
Managers and Directors
Valdo Kalm Chairman-Management Board
Andrus Ait Chief Financial Officer
Aare Tark Chairman-Supervisory Board
Hanno Hussar Head-Information Technology
Maarika Liivamagi Independent Member-Supervisory Board