Danish offshore services group Cadeler has concluded two firm agreements for the transport and installation of turbines and foundations as part of a developing offshore wind farm project. The total value of the contracts is estimated at approximately EUR500mn ($534mn), according to the company’s current evaluation. These agreements confirm the company’s strategy to position itself as a key provider of integrated offshore installation services.
The foundation operations will begin in early 2029 and will involve one of Cadeler’s new A-class vessels, designed for heavy-duty offshore foundation works. This will be the company’s third full-scope transport and installation (T&I) campaign for foundations. The activity strengthens Cadeler’s presence in this high-value segment, where demand for integrated solutions continues to grow.
Deployment of O-class vessels and contractual conditions
The second phase of the project, focused on turbine installation, is scheduled to start in early 2030. It will be executed using one of Cadeler’s O-class jack-up vessels. Completion of operations is expected by the end of the same year. These vessels are designed to meet the technical requirements of next-generation turbines used in large-scale offshore projects.
The contracts include a conditional clause tied to the client’s final investment decision. If the project is cancelled, the agreements may be terminated subject to a termination fee. This provision reflects standard industry practice for long-term projects with high financial and technical uncertainty.
Fleet expansion and strategic positioning
With these new contracts, Cadeler highlights the complementarity of its fleet, which currently includes nine vessels dedicated to wind installation, three of which are still under construction. This extended capacity allows the company to meet increasing demand for integrated services on complex projects, particularly in Northern Europe.
Cadeler Chief Executive Officer Mikkel Gleerup stated that the contracts reflect the relevance of the company’s current strategy in relation to market developments. The company continues to target a leadership position in the offshore wind transport and installation segment by offering flexible, industrialised solutions tailored to the new requirements of wind farm developers.
