Thursday 25 July 2024

Boom Logistics (ASX:BOL) secures windfarm maintenance contract with Squadron Energy

Boom Logistics Limited (ASX: BOL) has announced the award of a contract with Squadron Energy (Squadron) for maintenance work on wind turbines within Squadron’s wind asset portfolio. The $12 million contract will see the Company provide crane support for wind turbine maintenance tasks. The work is expected to commence in 1H FY25.

  • Windfarm maintenance contract secured with Squadron Energy
  • Initial contract value of $12 million
  • Significant contract engagement in the rapidly growing windfarm maintenance industry
  • Year-to-date contracts secured now exceed $186m

Ben Pieyre, Boom Logistics’ CEO said “The maintenance contract builds upon our existing operational footprint within the renewables industry. With a large and recently installed wind turbine base, maintenance work provides a large and ongoing opportunity for Boom. The Company has secured a number of new contracts in FY24 reflecting both the strong end-market environment and our track record of operational delivery. Boom’s growing contract base coupled with our focus on improved operational efficiency and margins continues to underpin our improving financial performance.”

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