Subsea7's renewables business reported earnings before interest, tax, depreciation, and amortization (EBITDA) of $38 million for the second quarter of 2024, up from $34 million in the same period of 2023. Revenue for Q2 2024 was $281 million, slightly down from $309 million in Q2 2023.
Utilization of key offshore wind installation vessels was high in the renewables segment. Notable deployments included Seaway Strashnov and Seaway Alfa Lift at Dogger Bank B and Seaway Aimery at Moray West, both off the UK coast.
Seaway Ventus completed its inaugural turbine installation at Gode Wind 3 in Germany and began work at Borkum Riffgrund 3 in the UK.
In Taiwan, Seaway Phoenix continued operations for Zhong Neng and Yunlin projects. Additionally, Seaway Moxie transitioned to Taiwan to support the Yunlin project.
