Iberdrola Taps ABL for MWS Services on German Offshore Wind Project

Iberdrola S.A. IBDRY, the Spanish utility giant, has awarded a marine warranty survey (MWS) services contract to ABL, a global energy and marine consultancy, to support its offshore wind project in Germany. Iberdrola hired ABL to provide these services for its Windanker offshore wind farm, located 25 kilometers offshore Germany in the Baltic Sea.Per the terms of the contract, ABL will be responsible for the offshore transportation and installation of critical parts, including foundations, inter-array cables and wind turbine generators. ABL will also offer specialized technical reviews, followed by the approval of necessary documents. The scope of work also outlines that ABL will review and approve the operational processes and vessels associated with the assets used in the offshore wind project.ABL defines the contract as a ‘sizeable’ one, implying that its value lies in the range of $1-$3 million. However, the exact financial details of the deal were not disclosed.The Windanker wind farm is expected to have a total capacity of 315 megawatts (MW), comprising 21 turbines, each with a capacity of 15 MW. The offshore installation activities are likely to be executed between 2025 and 2036, while project commissioning is expected to take place by year-end 2026.ABL’s contract with Iberdrola builds on their previous success on the Baltic Eagle project in Germany. The contract further strengthens their relationship and reflects ABL’s valuable contributions to the offshore wind market in Germany. ABL mentioned that the contract should enable it to leverage its technical expertise in offshore wind projects to expand the scope of renewable energy generation in Germany.IBDRY’s Zacks Rank and Other Key PicksCurrently, IBDRY carries a Zacks Rank #2 (Buy).Some other top-ranked stocks from the energy sector are Smart Sand, Inc. SND, FuelCell Energy FCEL and Nine Energy Service NINE, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Smart Sand is a low-cost producer of high-quality Northern White frac sand, an ideal proppant for hydraulic fracturing and various industrial applications. The company provides proppant and other logistics services for several companies in the oil and gas industry. With sustained oil and gas market demand, SND is expected to see growing demand for its services, providing a positive outlook.FuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The company operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the need for NINE’s services is anticipated to increase, which should position the company for growth in the long run.Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.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 FuelCell Energy, Inc. (FCEL): Free Stock Analysis Report Smart Sand (SND): Free Stock Analysis Report Iberdrola S.A. (IBDRY): Free Stock Analysis Report Nine Energy Service, Inc. (NINE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks