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Statement on the DolWin 5 Consortium Disagreement

Through a consortium established in 2019, Aibel and Seatrium are jointly delivering the DolWin 5 offshore converter platform to TenneT. The two companies have experienced challenges and disagreements in how responsibilities and expenses were shared during the joint delivery, and both parties have submitted claims related to their respective scope of work.

Aibel Sailaway Dolwin Epsilon 300525 B 8960

Aibel’s claims are based on additional work and costs incurred by Aibel in order to complete the project in line with the customer's requirements. The claims have been thoroughly prepared and supported by external legal counsel. Seatrium has submitted counterclaims, which Aibel is reviewing as part of the agreed dispute process.

As the dispute has reached a deadlock at the consortium level, the matter now moves into formal arbitration. The matter will be resolved by arbitration under the SCC rules in Stockholm.

This is a standard and contractually defined mechanism for resolving disagreements between the partners. Aibel will continue to follow the established procedures and will address the claims through the arbitration process.

Aibel remains committed to the DolWin 5 project and to supporting its progress toward final completion.