Germany’s Windward Offshore has secured a senior loan facility for the post-delivery financing of the companies four commissioning service operation vessels (CSOVs) currently under construction at VARD.
The financing agreement signed end of last year with Crédit Agricole Corporate and Investment Bank (Crédit Agricole) and Export Finance Norway (Eksfin) includes a facility amount of up to €182m, Windward Offshore said.
As disclosed, the loan will be drawn in tranches upon the delivery of each vessel.
Bastian Hagebeuker, managing director of Windward Offshore, said: “We are grateful for this new partnership with top lenders Crédit Agricole and Eksfin, securing this very attractive financing for our fleet. It underlines the parties’ dedication to support the growth of the offshore wind industry and marks the start for a longstanding collaboration in the future.”
The vessels are scheduled for delivery in 2025 and 2026.
The first of the four CSOVs, Windward Athens, has successfully launched at VARD Shipyards Romania-Tulcea on February 10, 2025.
