The first manufacturing operations for the facility are scheduled to start in the second half of 2024.
The upgraded manufacturing plant is expected to significantly increase the total combined capacity of Sif to 500 kilotons a year and upgrade Sif’s capabilities to manufacture the equivalent of 200 XXXL, 11-metre diameter, 2,500 tonnes reference monopile foundations a year.
The layout is such that upgrades to facilitate even larger diameters can be made, according to Sif.
Once the expanded manufacturing plant is fully ramped-up, which is expected in the first half of 2025, the company projects EBITDA of EUR 135 million in 2025 and of at least EUR 160 million per annum from 2026 onwards. Sif said that this results in a payback period of 3-4 years.
Two launching customers, one of them being Ecowende, a joint venture of Shell and Eneco, together have committed to 348 kilotons of production, either booked or in exclusive negotiation, bringing the company’s present total order book to 662 kilotons.
Finnish welding specialist Pemamek will supply its PEMA production automation solutions to the Dutch company.
