Ezion unit wins US$83.4m contract to transport and install wind turbines

A WHOLLY-owned subsidiary of Ezion Holdings, Teras Offshore, has landed a contract for US$83.4 million from Foxwell Energy Corp for the transportation and installation of 31 9.5 megawatt (MW) offshore wind turbines.

In a filing to the Singapore Exchange on Monday, Ezion said that the contract is for a one-year period and is poised to commence in September 2024. The project is thus not expected to have a material impact on the group's earnings per share or net tangible assets for the financial year ending Dec 31, 2020.

Foxwell, an affiliate company of renewable energy firm Shinfox Corp, had won the tender from Taiwan Power Co to develop Phase 2 of the Taiwanese state-run utility's offshore wind farm for US$2.11 billion.

Trading in Ezion shares has been suspended since March 2019.