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Cadeler signs agreement for offshore wind projects

Cadeler announces a major ship reservation agreement with an undisclosed customer for wind farm installation projects, potentially worth 400 to 700 million euros.
Cadeler Signe un Accord Historique pour des Projets Éoliens Offshore.

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Cadeler, a key provider of installation and maintenance services for offshore wind energy, has signed a vessel reservation agreement with an undisclosed customer. This four-year agreement could become the largest in Cadeler’ s history if all options are exercised. The value of the projects to be carried out under this agreement is estimated at between 400 and 700 million euros. Work is scheduled to start in 2027, mobilizing a fleet of specialized vessels, including a new A-class vessel currently under construction. Cadeler’s fleet of state-of-the-art offshore wind farm installation vessels will be used to transport and install wind turbine foundations and generators (WTGs). This increased capacity underlines the growing importance of renewable energy initiatives and Cadeler’s central role in the global transition to offshore wind power.

Importance of Flexibility and Innovation

Mikkel Gleerup, CEO of Cadeler, said, “Our new vessel booking agreement highlights the critical importance of ambitious and timely vessel booking strategies and fleet flexibility to meet the growing needs of offshore wind projects worldwide. Cadeler remains committed to supporting our customers’ needs with innovative solutions and unrivalled service, ensuring that their renewable energy projects are completed on budget and on time.” The effectiveness of the agreement depends on the undisclosed customer’s success at a forthcoming auction scheduled for 2024. This underlines the competitive dynamics and financial stakes associated with offshore wind projects.

Cadeler and the Offshore Wind Industry

This mission is supported by a fleet of modern vessels, designed to maximize efficiency, synergies and flexibility in offshore wind projects. This vessel reservation agreement marks a significant step in Cadeler’s growth and promotion of renewable energies. By securing the availability of capable and versatile vessels, Cadeler is preparing to meet the growing needs of the offshore wind industry, while supporting global goals to reduce carbon emissions and transition to sustainable energy sources. Cadeler’s vessel reservation agreement with an undisclosed customer represents a major milestone for the company and for the offshore wind industry.

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