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50Hertz awards Siemens Energy, NSORe offshore converter contract

Published by Global Banking & Finance Review

Posted on June 17, 2026

2 min read

· Last updated: June 17, 2026

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50Hertz Commissions Siemens Energy, NSORe for Major Offshore Converter Deal

Major Offshore Converter System Project Announced

Project Overview

BERLIN, June 17 (Reuters) - German power grid operator 50Hertz has commissioned a consortium of Siemens Energy and Neptun Smulders Offshore Renewables to build an offshore converter system linking North Sea wind farms to Germany's electricity grid, the company said on Wednesday.

Innovative Two-Gigawatt Standard

The project marks the first time offshore converter platforms built to the new two-gigawatt standard will be manufactured primarily in Germany, with key components to be produced in Rostock-Warnemuende.

Government and Industry Response

"This contract is a strong and encouraging signal for Germany. It shows the potential of our industry and the capabilities of Germany as a business location," German Economy Minister Katherina Reiche said, adding that only a few suppliers worldwide can build two-gigawatt offshore converter platforms.

Contract Details and Economic Impact

The initial contract covers one offshore platform and one onshore converter station and 50Hertz said talks were continuing over a second converter system.

Order Volume and Job Creation

If concluded, the total order volume for NSORe alone would come to around €2.5 billion ($2.7 billion), mainly for production and services in the state of Mecklenburg-Vorpommern, creating more than 500 long-term jobs.

About NSORe

NSORe is a joint venture between Meyer Werft's Neptun Werft and Belgian steel construction company Smulders.

Reporting Credits

(Reporting by Maria Martinez and Holger Hansen, Editing by Madeline Chambers)

Key Takeaways

  • 50Hertz’s award to Siemens Energy and NSORe enables Germany’s first in‑country construction of 2 GW offshore converter platforms, with production centered in Rostock‑Warnemünde, bolstering local industrial capability. (zeit.de)
  • The joint venture NSORe, combining Neptun Werft (part of the MEYER Group) and Belgian Smulders, brings next‑generation HVDC converter capacity to Germany and is setting up strategic manufacturing facilities there. (smulders.com)
  • Regional support includes up to €300 million in state guarantees for infrastructure, an anticipated €2.5 billion order volume for NSORe, and an estimated creation of over 500 long‑term jobs in Mecklenburg‑Vorpommern. (zeit.de)

References

Frequently Asked Questions

What companies won the 50Hertz offshore converter contract?
Siemens Energy and Neptun Smulders Offshore Renewables (NSORe) were awarded the contract by 50Hertz.
What is the key innovation of the 50Hertz offshore converter project?
It is the first time offshore converter platforms built to the new two-gigawatt standard will be mainly manufactured in Germany.
How much is the NSORe contract for the offshore converter project worth?
If extended, the contract volume for NSORe could reach around €2.5 billion ($2.7 billion).
How many jobs will the offshore converter project create?
The project is expected to create more than 500 long-term jobs in Mecklenburg-Vorpommern.
What is NSORe?
NSORe is a joint venture between Meyer Werft's Neptun Werft and Belgian steel construction company Smulders.

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