CFE - Vineyard Wind 1 project win
Yesterday, CFE announced that DEME has secured the contract to install the foundations of the Vineyard Wind 1 wind farm at the US East Coast. We value the win of the project because it alleviates the doubts around the abilities of DEME to be competitive in a strictly regulated market (Jones Act). Additional utilization for the upcoming Orion & the upgraded Sea Installer is secured. We maintain our Accumulate-rating and € 98 TP.CFE is engaged in civil engineering, buildings and industrial construction, dredging works and electrical installations. Co. is also engaged in property development, environmental protection and building management. Co.'s works carried on by Co.'s civil engineering group includes the following: hydraulic engineering, harbor works, bridges, and other engineering works, tunnels, road construction, dams, storage tanks, piping and drainage and caissons sunken soft soil. Co.'s buildings and industrial construction sector is active in the following fields: administrative buildings, industrial construction, public utility buildings, redevelopment, and residential buildings.
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