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Cadeler signs the installation vessel reservation agreement

Posted on by darion

Cadeler has announced the signing of an installation vessel reservation agreement with an undisclosed customer for future wind farm installation projects. If all options are implemented during the four-year contract, it would be the largest transaction in Cadeler’s history, and the potential value of the projects that will be implemented under the contract is estimated at EUR 400-700 million. The agreement secures the availability of one or more suitable vessels from Cadeler’s full comprehensive fleet of wind farm installation vessels, including a newly built Class A vessel currently under construction. Work is scheduled to start in 2027.

Cadeler’s state-of-the-art fleet of offshore wind farm installation projects will be used to transport and install both foundations and wind turbine generators (WTGs), leveraging the Cadeler fleet to ensure maximum efficiency, synergy and flexibility. The signing of this reservation agreement highlights the growing importance of renewable energy initiatives and Cadeler’s key role in driving the transition to renewable offshore wind energy around the world.

Mikkel Gleerup, CEO of Cadeler, said: “Our new vessel booking agreement highlights the critical role of timely and ambitious vessel booking strategies and fleet flexibility in meeting the rapidly growing needs of offshore wind projects around the world. Cadeler remains committed to supporting our clients’ needs with innovative solutions and unrivaled service, ensuring their renewable energy project is delivered on budget and on time. Our customers’ success is of the utmost importance – not only for commercial viability, but also for our collective efforts to push the boundaries achievable in offshore wind development.”

The effectiveness of the deal is contingent on a positive outcome for an undisclosed customer in the upcoming 2024 auction.

More news and technical articles from the global renewable energy industry can be found in the latest issue of Energy Global magazine.

Energy Global Spring 2024 issue

The Spring 2024 issue of Energy Global begins with guest commentary from Field on how battery storage can serve as a viable solution to reduced energy consumption, before moving on to a regional report by Théodore Reed-Martin, editorial assistant at Energy Global, looking at the state of renewable energy sources in Europe. This issue also includes a number of technical articles on electrical infrastructure, turbine and blade monitoring, battery storage technology, coatings and more.

Read the article online at: https://www.energyglobal.com/wind/27052024/cadeler-signs-installation-vessel-reservation-agreement/