Hellenic Shipyards SA, a unit of German industrial conglomerate ThyssenKrupp AG (TKA.XE), said Tuesday it has obtained a multimillion-euro contract to build a specialty platform for German engineering giant Hochtief Construction AG (HOT.XE).
The platform, designed for the construction of offshore windfarms, is the first contract by the struggling shipyard in what it hopes will be a major new market over the next 10 years.
"According to our estimates, some 40 to 50 such platforms will be needed in the next 10 years worldwide," Hellenic Shipyards Chief Operating Officer Thies Stueber said.
Stueber didn't disclose the exact value of the contract, but said it was in the tens of millions of euros.
The increased use of wind energy is seen as key part of the European Union's Kyoto Protocol commitments to reduce greenhouse gas emissions.
Most windfarms in Europe are at relatively restricted onshore locations. But there is increasing interest in moving the wind turbines offshore - which would allow for larger windfarms that could take advantage of stronger and steadier seabreezes.
However, their construction requires a specialized platform or ship capable of erecting the turbines in waters up to 80 meters deep. There are less than a dozen such specialty vessels in operation worldwide, and less than half-a-dozen in Europe.
Stueber said plans for up to 160 offshore windfarms have been approved for various locations around the North Sea and the Baltic, 10 of which are already under construction.