Denmark’s offshore wind installation player Cadeler has secured additional capital, increasing the HSBC Corporate Facility from €50m to €80m.

Cadeler increased funding from HSBC in a strategic move to fortify its position in the offshore wind sector.

Mikkel Gleerup, chief executive of Cadeler, noted that “We are very pleased with the support and the shared vision of the potential in Cadeler and the offshore wind market. We are well placed to meet the increasing global demands and to execute the largest and most complex offshore wind installation projects.”

The offshore specialist said the extended facility underscored the company’s strategic positioning in the offshore wind market.

This development builds upon Cadeler’s existing partnership with HSBC, which had facilitated an unsecured green term loan facility of €50m to fuel the company’s expansion plans, particularly in the construction of P Class and A Class newbuild vessels, and the upgrade of existing O Class vessels with new cranes to install next-generation wind turbine generators.

Christina Ma, head of global banking Asia Pacific at HSBC, pointed out, “The upsizing of this green facility reinforces our capabilities and domain expertise in offering tailored solutions for our clients. We’re pleased to be able to upsize the lending facility in our role as the Sole Mandated Lead Arranger.”

Source: Cadeler