2023 UNIVERSAL REGISTRATION DOCUMENT

Activity in large offshore energy projects was intense in 2023. Cobra IS’s specialist subsidiary, Dragados Offshore, has built a solid worldwide reputation for expertise in the design, building (at its own facilities), transport and installation at sea of energy converter platforms. These collect the alternating current produced by wind farms and convert it into high-voltage direct current (HVDC) for transmission to onshore stations. In a consortium with Siemens Energy, which will manufacture the high-voltage equipment, the Cobra IS subsidiary is helping to build several mega wind farms in the North Sea, off the German coast. In 2023, it brought into service the first platform (DolWin6), began or continued construction of three more (BorWin5, DolWin4 and BorWin4), each with a capacity of 900 MW, and won two new contracts to build platforms with a capacity of 2 GW each. These offshore converters will be the world’s first in this performance class. Awarded by operators Amprion Offshore (two platforms) and TenneT (three platforms), these contracts have a combined value of €12 billon for the Dragados Offshore-Siemens Energy consortium. Altogether, the projects will generate workload for the Dragados Offshore construction yard in Cádiz, Spain, until 2031.

30,000 km of lines installed by Cobra IS subsidiaries in Brazil in the past 20 years.

Other large EPC projects that were completed or won during the year include:

• in Latin America, other than Brazil: the solar power plants in Chiriquí (Panama), Talnique (El Salvador), Matrisol and Los Negros (Dominican Republic), representing a combined capacity of 136 MW; the Puelche wind farm (158 MW) and the La Niña Piura Nueva transmission line (80 km) in Peru; the Belgrano-Buenos Aires (Argentina), Taboada and Provisur (Peru) water treatment plants;
• in Europe, preliminary work for the design-build of Germany’s first liquefied natural gas regasification terminal, at the mouth of the Elbe on the North Sea, and the launch of the contract for the electromechanical infrastructure of the Fehmarnbelt Fixed Link between the German and Danish coasts, for which the civil engineering work is being handled by VINCI Construction;
• in Africa, the commissioning of the Azito combined cycle power plant in Côte d’Ivoire and the construction of seawater desalination plants in Sfax (Tunisia) and Al Hoceïma (Morocco);
• in Asia, the water treatment plants in Chennai (India) and East Bay (the Philippines); the combined cycle thermal power plant (1,000 MW) in Talimarjan (Uzbekistan); the Morinomiyako biomass power plant in Sendai (Japan);
• in Oceania, under a PPP contract, several 330 kV and 500 kV transmission lines including substations and their connection to renewable energy power plants  a project for which Cobra IS, in a consortium with the local energy distributor, signed a commitment deed contract with the New South Wales government in Australia at the end of 2023.