Helix Energy Solutions Group HLX has announced that its robotics unit, Helix Robotics Solutions, has secured a contract from Seaway7, a part of Subsea7 SUBCY, for the burial of inter-array cables for an offshore wind farm. The cables will be buried at the Hornsea 3 Offshore Wind Farm operated by the renewable energy giant, Ørsted.
Per the terms of the contract, Helix Robotic Solutions will handle the burial of all 192 inter-array cables at the offshore windfarm. These cables have an approximate length of 500 kilometers. The duration of the contract is expected to be over 300 days. It is scheduled to start in the September quarter of 2026. The project management, along with engineering and survey support, will be handled by Helix’s offices in Aberdeen, UK.
For this project, Helix plans to deploy the Grand Canyon III trenching support vessel. The vessel is equipped with advanced subsea trenching technology, including the T1500 jet trencher and the i-Trencher trenching system. Additionally, the company will utilize a work-class remotely operated vehicle for real-time monitoring and intervention during the burial process. It will also provide the necessary survey services associated with this project.
Seaway7 was awarded the contract for the installation and transportation of inter-array cables for the Hornsea 3 offshore wind farm in October 2024. The windfarm is situated approximately 120 kilometers off the coast of Norfolk in the UK. The construction of the Hornsea 3 offshore wind farm is expected to be completed by 2027. The windfarm consists of 231 wind turbines with a total capacity of 2.9 GW.
Helix mentioned that the deal with Seaway7 is one of the most significant trenching contracts, enabling it to support the development of offshore wind farms in the United Kingdom. The contract also highlights Helix’s expansion into renewable energy.
HLX currently carries a Zacks Rank #4 (Sell), while SUBCY carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are Sunoco LP SUN and Archrock Inc. AROC. Sunoco currently sports a Zacks Rank #1 (Strong Buy), while Archrock carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Sunoco LP is one of the largest distributors of motor fuel in the United States. The partnership distributes fuel to independent dealers, commercial customers, convenience stores and distributors. Its current distribution yield is greater than that of the industry's composite stocks, providing unitholders with consistent returns.
Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
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
Sunoco LP (SUN) : Free Stock Analysis Report
Helix Energy Solutions Group, Inc. (HLX) : Free Stock Analysis Report
Subsea 7 SA (SUBCY) : Free Stock Analysis Report
Archrock, Inc. (AROC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.