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Singapore, 17 October 2025 – ST Engineering’s Marine business and Siemens Energy have been awarded a second contract by Transcontinental Capital Corporation (Bermuda) Ltd., a subsidiary of Seaboard Corporation, to deliver Estrella del Mar IV, a state-of-the-art barge-mounted power plant to Santo Domingo, Dominican Republic.

The new power plant will be based on its predecessor, the Estrella del Mar III. When completed, it will enhance the Dominican Republic’s energy infrastructure with greater efficiency, flexibility and sustainability. The Estrella del Mar IV is expected to be delivered in 2028 where it will be installed alongside the Estrella del Mar III off the shores of Santo Domingo.

“Transcontinental Capital’s decision to award a follow-on project demonstrates confidence in our proven engineering, construction, and project management capabilities, and is also a testament to our successful collaboration with Siemens Energy in delivering a highly efficient power generation facility,” said Tan Leong Peng, President of Marine, ST Engineering.

ST Engineering’s Marine business will be responsible for supplying the engineering design, procurement, construction of the floating power plant, as well as its transportation and installation. By constructing the plant in Singapore and delivering it as a complete plug-and-play solution, the project reduces both cost and construction time compared to a land-based power facility.

Under the agreement, Siemens Energy will supply a 145-megawatt (MW) combined cycle power plant featuring two SGT-800 gas turbines, one SST-600 steam turbine, and an innovative storage system. Based on its visionary SeaFloat concept, this hybrid approach combines high-efficiency power generation with advanced lithium-ion battery storage to maximise performance, improve fuel efficiency and reduce emissions.

“Floating power plants like Estrella del Mar IV demonstrate how innovative engineering can overcome land and infrastructure constraints, while delivering reliable and resilient energy,” said Andreas Pistauer, Global Head of Sales for Gas Services at Siemens Energy.

The Estrella del Mar III was commissioned in 2022. Its innovative integration of marine engineering and energy generation received the Plant of the Year accolade from Power Magazine for its pioneering floating combined-cycle gas turbine power barge. 

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Join us for our half-day event on ‘BESS Route-to-Market: New Models and Impact of Regulatory Challenges on Bankability’, taking place on 18 November 2025 in Frankfurt.

Germany is experiencing a surge in interest around Battery Energy Storage Systems (BESS), positioning them as a key pillar of the energy transition. Yet, while the market gains momentum, standardised route-to-market contracts are still in their infancy. Initial agreements based on UK-style templates are entering the scene, but without careful alignment to the German regulatory framework, they risk legal pitfalls and challenges to bankability. What does this mean for investors, developers and lenders? How can risks be managed effectively while ensuring compliance and financial viability?

Join us for an insightful discussion with leading experts on approaches to shaping robust, future-oriented contract models for BESS in Germany, bringing in latest insights from the UK market. This event is designed to help utilities, funds, financial institutions and asset owners.

KEY TOPICS

• regulatory challenges and their impact on credit structures;
• grid connection: A critical factor in project development and transactions;
• transition in Tolling Agreements; and
• perspectives from lenders and legal experts.

Details and speaker line-up will be announced in early November. Please note: the event will be held in English.

Be part of the conversation – and help shape the future of energy storage.

We kindly ask you to register your interest in attending this in-person event via the ‘Register your interest’ button or by emailing events_germany@wfw.com at your earliest convenience and no later than Monday 10 November. Attendees will be confirmed on a first-come, first-served basis.