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SOURCE: AFI

Public sector shipyard Cochin Shipyard Limited (CSL) has secured a prestigious international contract worth ?500 crore (approximately USD 63 million) for the design and construction of a hybrid Service Operation Vessel (SOV) for the offshore wind farm industry. The announcement was made on Wednesday, January 31st, 2024, through an exchange filing.

This vessel, destined for the European market, will be specifically designed and built to cater to the service, maintenance, and operational needs of offshore wind farms. With the growing demand for sustainable energy solutions, particularly in Europe, this contract marks a significant achievement for Cochin Shipyard.

This order demonstrates Cochin Shipyard’s expertise in constructing specialized vessels for the growing offshore wind energy sector. It also strengthens the company’s position as a leading shipyard in India and expands its international presence.

The global offshore wind energy market is projected to witness significant growth in the coming years, driven by the increasing focus on renewable energy sources. This presents a lucrative opportunity for shipyards like Cochin Shipyard to specialize in building vessels specifically designed for the industry.

Key Details of the Project:

  • Contract Value: ?500 Crore (approximately USD 63 million)
  • Client: European client (name not disclosed)
  • Vessel Type: Hybrid Service Operation Vessel (SOV)
  • Purpose: Service, maintenance, and operation of offshore wind farms
  • Delivery Timeline: 2026