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Saturday, July 2, 2022

Danish Fund Buys into Norwegian Offshore Wind Support Vessel Firm

Maritime Activity Reports, Inc.

May 25, 2022

Credit: Norwind Offshore

Credit: Norwind Offshore

Danish investment fund Navigare Capital Partners will become a shareholder in Norwind Offshore, an offshore wind-focused vessel company established in Norway in 2021.

Navigare Capital Partners specializes in investments in maritime assets. 

"The purpose of the investment is to contribute to building a leading company within offshore wind, based in Ålesund," a press release issued Wednesday reads.

Managing Partner of Navigare Capital – Henrik Ramskov: “The investment into offshore wind support vessels is an important next step in our strategy and commitment towards net zero emissions. Through our majority investment into the partnership with Norwind Offshore and the highly 
skilled team and founders behind it, we believe that this investment will both support our accelerating efforts towards net zero and generate an attractive return for our investors.”

"Having Navigare Capital on board as a shareholder enables us to carry out our growth strategy and is an important milestone in our development of becoming a leading company within offshore wind, says CEO of Norwind Offshore, Svein Leon Aure. For us, this collaboration is a testimony to the experience and expertise which has been built up through the generations within the founding partners, and the foundation on which Norwind Offshore was established.

No details were shared on the financial side of the deal, nor on how big a shareholder in Norwind Offshore Navigare would become.

Norway's Farstad, Volstad, and Kleven in October 2021, teamed up and formed Norwind Offshore, a company focused purely on offshore wind. 

Announcing the company launch, they also announced orders with Vard for the delivery of three vessels by 2024, two newbuild CSOV, and one conversion of a platform supplier into a Service Operation Vessel (SOV). In April 2022, Norwind declared options for two more CSOVs.

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