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Eiffage Wins Contract for a 2 GW Offshore Conversion Station in Germany

Eiffage, through its joint venture NSORe and in collaboration with Siemens Energy, has secured the construction contract for a 2 gigawatt conversion station for the NSC2 offshore connection project in Northern Germany. The award marks a further advancement in the group's positioning in high-voltage energy infrastructure.


Eiffage Wins Contract for a 2 GW Offshore Conversion Station in Germany

A Turnkey Contract for a High-Voltage Offshore Platform

The NSORe-Siemens Energy consortium has won the construction contract from 50Hertz, the transmission system operator in northern and eastern Germany, for a 2 gigawatt conversion station for the NSC2 (North Sea Connector 2) offshore network project. The contract covers the complete implementation, from concept to turnkey delivery of the facilities, including system design, parts delivery, construction, onshore and offshore installation, and commissioning.

NSORe, a joint venture equally owned by Eiffage (through its Belgian subsidiary Smulders) and Neptun Werft (Meyer Werft group), is responsible for the engineering and construction of the topside (main structure housing transformers, switching gear, and converters) as well as the jacket foundation. Siemens Energy provides the high-voltage electrotechnical systems, including the onshore station.

Manufacturing in Rostock and Vlissingen, Commissioning by End of 2034

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Manufacturing will be carried out in the Rostock and Vlissingen plants, thus supporting long-term industrial activity at these two sites. The commissioning of the NSC2 platform is scheduled for the end of 2034.

Negotiations are also underway for a second project of similar magnitude.

Strengthened Presence in Energy Infrastructure

This award is part of a series of major contracts won by Eiffage in June 2026. Three weeks earlier, the group had secured a €110 million contract for two bridges in Nuremberg, Germany, and a contract worth over €120 million from Campus IA for the construction of a high-voltage electrical substation. This succession of contracts reflects a strengthened presence in energy infrastructure and civil engineering works in Central Europe.



Sector Immobilier / construction · Infrastructures · Concession · Promotion immobilière / logement · BTP / infrastructures Construction


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Context

Period
  • Period: 2025
Key reported figures
  • Revenue: 25 313 millions d'euros
  • Revenue growth: 8,0 %
  • Net income: 1 467 millions d'euros
  • Free cash flow: 2 105 millions d'euros
  • 8 548 millions d'euros
  • Dividend per share: 4,80 €
Outlook / guidance
  • Expected revenue: Le chiffre d’affaires 2026 est attendu en hausse, dans une ampleur moindre qu’en 2025.
  • Expected EBITDA: L’EBITDA 2026 devrait progresser par rapport à 2025.
  • Expected net income: Le résultat net part du Groupe 2026 est attendu en hausse.
  • Management commentary: Perspectives 2026 indiquent une croissance d’activité moindre que celle de 2025, avec une nouvelle amélioration du résultat opérationnel courant et du résultat net part du Groupe.

The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.

Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.

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