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    Does New Offshore Wind and Hydropower Contract Surge Change The Bull Case For Aker Solutions (OB:AKSO)?

    Simply Wall St·07/12/2026 15:23:30
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    • Aker Solutions ASA recently announced it had won a substantial HVDC substructure contract worth between NOK 2,500 million and NOK 4,000 million for a European offshore wind project, alongside a sizeable NOK 500 million to NOK 1,500 million contract with Tussa Energi AS for electromechanical equipment at the Tussa II hydropower plant in western Norway.
    • Together, these awards add billions of kroner to Aker Solutions’ order intake in renewables and hydropower, underlining growing demand for its engineering, procurement and construction capabilities in low‑carbon power infrastructure.
    • We’ll now examine how this sizeable renewables order intake, particularly the HVDC offshore wind award, could reshape Aker Solutions’ existing investment narrative.

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    Aker Solutions Investment Narrative Recap

    To own Aker Solutions, you need to believe it can translate a strong tender pipeline and growing low carbon order book into resilient earnings while managing legacy project risks and an oil weighted backlog. The new HVDC offshore wind and Tussa II hydropower awards reinforce the renewables narrative and near term revenue visibility, but they do not remove the key risk around execution and commercial issues in older renewables contracts or potential delays in client investment decisions.

    Among recent announcements, the Q1 2026 results stand out: Aker Solutions reported revenue of NOK 13,425 million and net income of NOK 1,016 million, while reiterating 2026 revenue guidance of NOK 45–50 billion. Against that backdrop, the new HVDC award slots into an already sizeable renewables and field development pipeline, potentially strengthening the case that high order intake can underpin that guidance, even as investors weigh ongoing geopolitical and tender timing risks.

    Yet against this positive order momentum, investors should still keep a close eye on how exposed Aker Solutions remains to a small group of large oil and gas clients and whether its pace of renewables diversification can really offset...

    Read the full narrative on Aker Solutions (it's free!)

    Aker Solutions' narrative projects NOK34.1 billion revenue and NOK1.3 billion earnings by 2029.

    Uncover how Aker Solutions' forecasts yield a NOK44.56 fair value, in line with its current price.

    Exploring Other Perspectives

    OB:AKSO 1-Year Stock Price Chart
    OB:AKSO 1-Year Stock Price Chart

    Compared with the consensus, the most pessimistic analysts were assuming revenues fall to about NOK 29.2 billion and earnings to roughly NOK 802.6 million by 2029, so if you are weighing this new HVDC win against that backdrop, it highlights how sharply opinions differ and why it can be useful to compare several viewpoints before you decide what story you think the numbers really support.

    Explore 5 other fair value estimates on Aker Solutions - why the stock might be worth just NOK44.56!

    Reach Your Own Conclusion

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.