Cadeler F class

Danish-based offshore wind installation tonnage provider Cadeler announced yesterday the signing of a significant installation vessel reservation agreement with an undisclosed client for upcoming wind farm installation projects.

The effectiveness of the agreement is contingent upon a successful outcome for the undisclosed client in an upcoming 2024 auction, but if all options are exercised during the four-year agreement then the agreement would represent the largest deal in Cadeler’s history, with the potential value of the projects to be executed under the agreement estimated to be in the range of €400-€700m.

The agreement, with work planned to commence in 2027, secures the availability of one or more capable vessels from the full versatility of Cadeler’s fleet of wind farm installation vessels, including a newbuild A Class vessel currently under construction.

Cadeler’s fleet of vessels for offshore wind farm installation projects will be used for transport and installation of both foundations and wind turbine generators.

Mikkel Gleerup, chief executive of Cadeler, said: “Our new vessel reservation agreement highlights the crucial role of timely and ambitious vessel reservation strategies and fleet flexibility to meet the fast-growing needs of offshore wind projects worldwide.”

Source: Cadeler.