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    FSJ   GB0003395000

JAMES FISHER AND SONS PLC

(FSJ)
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Delayed London Stock Exchange  -  11:35 2022-12-05 am EST
335.00 GBX   +0.68%
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James Fisher and Sons : JF Renewables wins HV support services contract for Formosa 2 offshore wind farm 21 September 2022

09/21/2022 | 05:40am EST

21 September 2022

JF Renewables wins HV support services contract for Formosa 2 offshore wind farm in Taiwan

Subsidiary EDS to manage high voltage electrical and mechanical safety rules application on Formosa 2 as well as delivering training to local workforce.

EDS HV Group (EDS), part of James Fisher Renewables (JF Renewables), has been awarded a multi-million-pound contract to provide high voltage (HV) specialist personnel and HV safety management services at the Formosa 2 offshore wind farm in Taiwan.

The Formosa 2 offshore wind farm project is being jointly developed by JERA, Macquarie's Green Investment Group (GIG) and Swancor Renewable Energy. GIG is supported by its portfolio company, Corio Generation. Once complete, the project will provide 376MW of renewable electricity to approximately 380,000 households and will bring Taiwan's Ministry of Economic Affairs another step closer to achieving its target of 20% renewables generation by 2025.

David Orr, commissioning projects business manager, EDS, comments:

"It was a real privilege to play such a crucial role at the very start of Taiwan's journey within offshore wind - this next phase represents an exciting opportunity for the region, and we are looking forward to once more sharing our knowledge and skills with the Taiwanese."

Commencement began in mid-2021, and the contract will run for approximately 16 months. EDS will support the management of the high voltage network and the electrical safety during the construction and commissioning phase of the project, followed by transitional support to wind farm operations. EDS will harness its expertise and specialist capabilities to safely energise and efficiently run the HV network.

EDS will simplify the complex safety aspects of the project by managing and maintaining a bespoke set of safety rules and procedures which have been developed and authored by EDS.

Discussing details of the contract Wayne Mulhall, managing director of James Fisher Renewables said:

"We are delighted to be in a position to share our years of experience providing high quality electricity network management services to the offshore wind sector at the construction / commissioning phase.

"We hope to build upon the experience gained during other projects in Taiwan by providing and implementing a robust and safe system of work for the management of electrical operations during construction and commissioning with final handover to the operations and maintenance phase of the project."

Disclaimer

James Fisher & Sons plc published this content on 21 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2022 09:39:09 UTC.


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Sales 2022 509 M 620 M 620 M
Net income 2022 13,5 M 16,5 M 16,5 M
Net Debt 2022 194 M 236 M 236 M
P/E ratio 2022 12,5x
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Capitalization 169 M 206 M 206 M
EV / Sales 2022 0,71x
EV / Sales 2023 0,65x
Nbr of Employees 2 568
Free-Float 66,4%
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