A contract reshuffle worth watching
This is not simply another offshore converter award.
LanWin3 was originally awarded in 2024 to a consortium of Siemens Energy and Dragados Offshore under an EPCI contract valued at around €2.9 billion. That package covered the offshore and onshore converter systems, engineering, procurement, construction, transport and installation. The offshore platform was originally due to be fabricated at Dragados Offshore’s yard in southern Spain.
Two years later, the platform package has been reshuffled. Neptun Smulders Offshore Renewables, or NSORe, has now concluded a contract with 50Hertz for the LanWin3 offshore converter station. Siemens Energy remains responsible for the high-voltage technology, while the steel construction and platform scope has been transferred into NSORe’s production network in Germany and the Netherlands. Neptun Werft explicitly describes the latest award as an amendment of the previous steel construction and platform scope.
That is the important part for suppliers. The converter technology route remains largely unchanged, but the fabrication, outfitting and offshore platform supply chain has moved.
Where the work now sits
NSORe is a 50:50 joint venture between Neptun Werft, part of Meyer Werft, and Smulders, part of Eiffage. Neptun’s Rostock-Warnemünde yard will build key topside components and the main offshore platform structure, while Smulders will fabricate the jacket at Vlissingen.
The same industrial setup is already being deployed for 50Hertz’s LanWin6 project, awarded in June 2026 to Siemens Energy and NSORe. Neptun says the NSORe portion of LanWin3 and LanWin6 together is worth approximately €2.5 billion. If divided broadly evenly, that points to an offshore platform value in the region of €1.2 billion to €1.3 billion per project, although 50Hertz and NSORe have not disclosed a project-by-project split.
The physical scale is equally significant. Dragados Offshore’s project information for the earlier LanWin3 configuration lists a 31,000-tonne topside and 13,500-tonne jacket. The final NSORe configuration may differ, but those figures give suppliers a useful indication of the fabrication and logistics challenge.
Where suppliers should look
Based on EPCIntel.com benchmarking for large 2 GW HVDC offshore converter platforms, a platform package of around €1.2 billion to €1.3 billion typically creates several major subcontracting pools.
Structural steel, topside modules and jacket fabrication can account for roughly 35% to 40%, equivalent to around €430 million to €500 million. Mechanical and electrical outfitting, including HVAC, cooling, fire and gas, cranes, utilities, piping and auxiliary systems, can represent another €250 million to €320 million.
Marine transport, heavy lift, offshore installation and associated logistics can absorb roughly €125 million to €190 million, while engineering, integration, testing and commissioning can represent a similar range. The remaining spend sits across secondary steel, cable systems, controls, telecoms, architectural packages, coatings and specialist equipment.
These are EPCIntel.com benchmark estimates, not disclosed LanWin3 contract allocations, but they show where procurement activity is likely to emerge.
The high-value electrical package remains with Siemens Energy. The technology scope around these 2 GW systems includes transformers, switchgear and converter equipment, creating a separate supplier channel around HVDC equipment, protection and control, electrical integration and specialist services.
A wider offshore grid pipeline
LanWin3 will connect 2 GW of offshore wind capacity in the German North Sea using 525 kV HVDC technology. 50Hertz currently lists completion of the offshore grid connection for the end of 2032.
The bigger signal is what happens after this award. With LanWin3 and LanWin6 now feeding the same NSORe industrial platform strategy, Rostock and Vlissingen are becoming repeat-build locations for Germany’s new generation of 2 GW converter platforms.
For subcontractors, that matters more than a single award. Repeat yards mean repeat procurement channels, framework opportunities and a much better chance of turning one qualification into several projects.
