Smulders Projects Belgium N.V.

What Smulders Projects Belgium N.V. does

Smulders Projects Belgium N.V. is a Belgian EPC contractor and wholly-owned subsidiary of Eiffage SA (the French construction group listed on Euronext Paris) that engineers, fabricates, and assembles heavy steel structures for the offshore wind and civil infrastructure markets. The company manufactures offshore wind foundations — transition pieces, jackets, monopile outfitting, and floating foundations — and builds high-voltage offshore substations (HVAC transformer modules, topsides, jackets), with a cumulative track record of more than 3,000 transition pieces, 160 jackets, and 6 floating foundations delivered across Western Europe, Asia, and the United States. Operations span ten production and assembly yards in Belgium (Arendonk HQ, Hoboken, Balen), the Netherlands (Vlissingen, Schiedam), Poland (Żary, Niemodlin, Łęknica), France (Fos-sur-Mer), and the United Kingdom (Wallsend), employing more than 2,400 people.

The business model is project-based EPC revenue won through competitive tendering with transmission system operators, wind farm developers, and main contractors. Multi-year contracts are typically structured as one-time project revenue with billing across engineering, procurement, fabrication, transport, and installation/commissioning milestones. Customers include tier-1 European wind developers (Ørsted, Equinor, Ocean Winds, ScottishPower Renewables, Baltic Power/PKN Orlen) and TSOs (Elia, 50Hertz, TenneT), with marquee projects including Dogger Bank (3.6 GW), Hornsea 3, Bałtyk 2&3 (1.44 GW), Empire Wind 1, East Anglia TWO, Hollandse Kust West Beta, and the world's first artificial energy island (MOG2 for Elia). Pricing and contract values are not publicly disclosed; awards are negotiated. A smaller onshore civil-infrastructure line generates revenue from bridges, pontoons, locks, and industrial steel structures.

Smulders has moved beyond pure fabrication into systems integration for offshore wind farms and HVDC converter platforms. Two anchor consortiums structure its addressable pipeline: NSORe (an equal joint venture with Neptun Werft / Meyer Werft Group, with Siemens Energy as equipment partner) targets HVDC converter platforms and won the 2 GW North Sea Connector 2 converter station for 50Hertz in 2026; and the HSI Joint Venture (Smulders HSM plus Iv) handles offshore substation EPCIC including OSS Jasmund, OSS Zingst & Darß, and Modular Offshore Grid 2. The company is certified to ISO 9001, 14001, 45001, and 50001, holds CO2 Performance Ladder Level 5 and EN 1090-1, and is a UN UNITAR SDG Ambassador (2020). Smulders is now extending geographically into North America via a 2026 Teaming Agreement with Riggs Distler and Cherubini for the Canadian (Nova Scotia) offshore wind supply chain.

Name

Smulders Projects Belgium N.V.

Legal name

SMULDERS GROUP NV

Website

https://smulders.com

Company type

Private

Founded year

1966

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Smulders Projects Belgium N.V., a Belgian Eiffage SA subsidiary, is an EPC contractor that designs and fabricates heavy steel foundations, offshore substations, and HVDC converter platforms for European and North American offshore wind developers and transmission system operators.

Ownership category

akta.pro rank

Product category

Offshore Wind Infrastructure

NAICS

Other General Purpose Machinery Manufacturing (3339)

SIC

General Industrial Machinery & Equipment, Nec (3569)

akta.pro primary industry

Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF)

akta.pro secondary industry

Wind Balance-of-Plant EPC (Crane Pads, Turbine Foundations, Internal Roads) (EUAEADAI)

Keywords

• Offshore wind foundations
• EPC steel construction
• Offshore substations
• HVDC converter platforms
• Offshore wind integration

Headquarters

HQ city

Arendonk

HQ country

Belgium

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D

Revenue model

1. EPC Contracts for Offshore Wind Infrastructure: Smulders generates revenue through Engineering, Procurement, Construction and Installation/Commissioning contracts for offshore wind foundations, substations, and converter platforms. Revenue is project-based, one-time contract revenue with long project timelines typically spanning several years.
2. Civil and Industrial Steel Structures: Revenue from construction of heavy, technically complex civil and industrial steel structures including bridges, pontoons, locks, and architectural structures. Project-based contracts for onshore infrastructure.
3. System Integration Services: As a systems integrator for offshore wind farms, Smulders provides integrated engineering, procurement, and construction services that bundle multiple deliverables into turnkey solutions.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Smulders is a multidisciplinary EPC contractor that engineers, produces, delivers, and assembles heavy, technically complex steel structures for offshore wind farms and civil infrastructure. The company serves as a system integrator for offshore wind farms, delivering foundations (transition pieces, jackets, floating foundations), high-voltage substations, and HVDC converter platforms through turnkey engineering, procurement, construction, and commissioning contracts awarded by transmission system operators and wind farm developers.

Product overview

Smulders is a multidisciplinary EPC (Engineering, Procurement & Construction) contractor specializing in heavy, technically complex steel structures and serves as a system integrator for offshore wind farms. The product portfolio comprises four interconnected offerings: Offshore Foundations (transition pieces, jackets, and floating foundations that support wind turbines at sea), Offshore Platforms (high-voltage substations, transformer modules, topsides, and jackets for wind farm grid connection), NSORe (a joint venture with Neptun Werft focused on next-generation HVDC converter stations for long-distance power transmission), and Onshore Solutions (civil infrastructure including bridges, pontoons, and industrial structures). Projects span Western Europe, Asia, and the United States, with key facilities in Belgium, Netherlands, Poland, France, and the UK. As a subsidiary of Eiffage, the company leverages group resources while maintaining specialized expertise in offshore wind energy infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• NSORe (Neptun Smulders Offshore Renewables): Joint venture between Neptun Werft and Smulders dedicated to HVDC offshore substation projects
• HSI Joint Venture

Products and services

• Offshore Foundations Engineering and construction of transition pieces, jackets, and floating foundations for offshore wind turbines. Smulders has built over 3,000 transition pieces, 160 jackets, and 6 floating foundations across Western Europe, Asia, and the United States. Delivered to offshore wind developers and operators.
• Offshore Platforms Turnkey delivery of high-voltage substations and their foundations for offshore wind farms, including HVAC transformer modules, topsides, and jackets. Also provides infrastructure solutions for the oil and gas sector. Delivered via EPC contracts to wind farm developers and transmission system operators.
• NSORe (Neptun Smulders Offshore Renewables) Equal joint venture between Smulders and Neptun Werft (Meyer Werft Group) dedicated to HVDC (High Voltage Direct Current) offshore converter station projects. Offers fully integrated, turnkey solutions from design through delivery for next-generation HVDC projects in European and US offshore wind markets.
• Onshore Solutions Construction of heavy, technically complex civil and industrial steel structures including architectural buildings, bridges, pontoons, industrial plants, power stations, and cranes. Delivered to government agencies and main contractors for civil infrastructure projects.

Quantifiable outcome

• Dogger Bank will power 6 million British households with 3.6 GW capacity
• +4 more outcomes

Named customers11 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Neptun Werft (Meyer Werft Group)coreStrategic or Co-development Partner · 18 June 2026NSORe (Neptun Smulders Offshore Renewables) is an equal joint venture dedicated to HVDC offshore substation projects. Combines Neptun Werft's shipbuilding heritage and production capacity with Smulders' offshore wind expertise. Responsible for engineering and constructing converter platforms including topsides and jacket foundations.
• Siemens EnergycoreStrategic or Co-development Partner · 18 June 2026NSORe consortium partner for North Sea Connector 2 project. Siemens Energy provides high-voltage transmission technology including onshore station while NSORe constructs the converter platform. Approximately 95% of equipment manufactured at Siemens Energy's German facilities.
• H2DO / H2sea / Haskoning / TCI Risk Management / ECHT Regie in TransitieminorStrategic or Co-development Partner · 8 June 2026Consortium for feasibility and concept design studies for offshore green hydrogen production (30-50 MW capacity) using surplus electricity from offshore wind farms. Project aims to ease grid congestion and contribute to Hamburg Declaration goals for North Sea clean energy hub. Smulders HSM part of engineering consortium.
• Riggs DistlerminorStrategic or Co-development Partner · 22 April 2026Teaming Agreement signed at WindEurope 2026 to support fabrication and delivery of offshore wind infrastructure in Nova Scotia, Canada. Combines U.S. and European offshore wind expertise with Canadian fabrication capabilities to support Canada's 5 GW offshore wind target by 2030.
• Cherubini Bridges & StructuresminorStrategic or Co-development Partner · 22 April 2026Teaming Agreement partner providing over 250,000 square feet of fabrication space with direct quayside and marine vessel access in Nova Scotia. Supports local production of wind components for Canadian offshore wind market.
• Searénité Consortium (Chantiers de l'Atlantique, EDF Power Solutions, Heerema Marine Contractors, Menck, RTE, Sealence)minorStrategic or Co-development Partner · 7 April 2026Seven companies formed the Searénité consortium to develop SubSea Quieter technology for underwater noise reduction in floating wind and jacket foundation installations. Project backed by €7.1 million funding under France's France 2030 program. Prototype trials scheduled for 2028 at Port of Saint-Nazaire.
• Eiffage SA (Parent Company)coreOthers · 31 May 2025Smulders is a subsidiary of Eiffage SA, a major French construction and concessions group. Eiffage provides corporate backing and allows Smulders to leverage group expertise in steel construction and marine works (e.g., Herbosch-Kiere partnership for pontoon projects).
• HSM Offshore EnergycoreStrategic or Co-development Partner · 1 May 2025HSI Joint Venture (with Iv) formed mid-2024 through integration of HSM Offshore Energy and Smulders. Responsible for EPCIC of offshore substations including OSS Jasmund, OSS Zingst & Darß, and Modular Offshore Grid 2. Prefabrication at Schiedam facilities, final assembly at Vlissingen.
• Iv (Engineering Firm)coreStrategic or Co-development Partner · 1 May 2025HSI Joint Venture partner for offshore substation projects. Provides engineering expertise alongside Smulders HSM fabrication capabilities. Engineering for Modular Offshore Grid 2 done from Iv office in Papendrecht.
• SifcoreStrategic or Co-development Partner · 31 December 2024Consortium partner for offshore wind foundations. Dogger Bank project: Sif manufactured monopiles and primary steel for transition pieces; Smulders manufactured secondary steel, assembly, coating and testing. For East Anglia TWO and Bałtyk 2 & 3, Sif supplies monopiles and primary steel while Smulders handles transition pieces and outfitting.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Sif Group: Dutch manufacturer of monopiles and primary steel for offshore wind foundations, working with Smulders as consortium partner on Dogger Bank, East Anglia TWO, and Bałtyk 2&3. Directly comparable in offshore wind foundation fabrication.
• EEW SPC: German manufacturer of large-diameter monopiles for offshore wind, one of the leading global suppliers. Directly competes in the same offshore wind foundation fabrication category as Smulders.
• Bladt Industries: Danish manufacturer of offshore wind foundations, transition pieces, and substations. Direct peer in heavy steel fabrication for offshore wind with overlapping customer base across European developers.
• Lamprell: UAE-based fabrication specialist for offshore wind jackets and foundations serving European projects. Direct peer in jacket and foundation EPC for offshore wind farms.
• Aibel: Norwegian EPC contractor for offshore substations and HVDC platforms serving North Sea offshore wind developers. Directly competes with Smulders HSM in offshore substation EPCIC.
• Heerema Marine Contractors: Dutch offshore installation contractor for offshore wind foundations, substations, and jackets. Consortium partner with Smulders in the Searénité underwater noise reduction project; comparable in offshore wind infrastructure delivery.
• Chantiers de l'Atlantique: French shipyard that builds offshore substations and HVDC platforms for offshore wind. Customer of Smulders for Centre Manche 1&2 jackets but also competes for offshore platform EPCIC contracts.

Broad incumbents

• McDermott International: Global offshore EPC contractor serving oil & gas and offshore wind with subsea and platform capabilities. Broader portfolio than Smulders but overlaps on offshore wind platform fabrication and installation.
• Saipem: Italian offshore and onshore EPC contractor serving offshore wind and oil & gas with platform fabrication, installation, and EPCI capabilities. Larger and more diversified but addresses overlapping offshore wind infrastructure projects.
• Hitachi Energy: Global leader in HVDC transmission technology and supplier to NSORe for North Sea Connector 2. Comparable in HVDC offshore platform space but from the power systems/equipment side rather than structural fabrication.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCF7RjAH7ZjCBKBv9plJiWQw
• Xx.com/SmuldersEiffage

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Smulders Projects Belgium N.V.