Cadeler Inks $580M Offshore Wind T&I Contracts
Danish offshore wind installation firm Cadeler has signed two firm contracts covering the full-scope transportation and installation (T&I) of offshore wind turbines and their foundations for an upcoming offshore wind farm development, with a combined value of around $580 million.
The foundations T&I campaign is set to begin in early 2029 and to be executed using one of Cadeler’s newbuild A-class vessels.
The contract marks the the third full-scope foundation T&I campaign for Cadeler.
The turbine installation scope is scheduled to begin in early 2030 and will be carried out by one of Cadeler’s O-class jack-up vessels, with completion expected by late 2030.
The contracts are subject to the client’s investment decision in the project. Should the client be unsuccessful the agreements may be terminated subject to a termination fee, Cadeler noted.
“This project reinforces Cadeler’s position as a full-service T&I partner in the foundations space and demonstrates that our strategic direction is aligned with current market demands.
"With our fleet of nine wind installation vessels - and three additional under construction - Cadeler continues to deliver the flexibility, efficiency, and innovative solutions required to execute increasingly complex projects and to support the necessary build-out of offshore wind globally,” said Mikkel Gleerup, CEO of Cadeler.