Cadeler has inked a landmark installation vessel reservation agreement for forthcoming offshore wind farm installation projects. The deal, shrouded in confidentiality concerning the client, hinges upon a successful outcome at the impending 2024 auction.
Should all options be exercised within the four-year agreement, it would mark a watershed moment in Cadeler's trajectory, potentially constituting the largest deal in its history. The value of the projects envisaged under this agreement is estimated to hover between €400 million to €700 million.
This monumental agreement solidifies the accessibility of one or more proficient vessels from Cadeler's comprehensive fleet of wind farm installation vessels, encompassing a state-of-the-art A Class vessel currently under construction.
Scheduled to kick off in 2027, the work entails the utilization of Cadeler's fleet for the transport and installation of both foundations and wind turbines, underscoring the company's pivotal role in propelling the transition towards renewable offshore wind energy on a global scale.
Mikkel Gleerup, the Chief Executive Officer of Cadeler, accentuated the strategic significance of the newly forged agreement, stating, “Our new vessel reservation agreement highlights the crucial role of timely and ambitious vessel reservation strategies and fleet flexibility to meet the fast-growing needs of offshore wind projects worldwide.”
He further emphasized Cadeler's unwavering commitment to tailoring innovative solutions and unparalleled service to meet clients' requirements, ensuring the realization of renewable energy projects within specified budgets and timelines.
Gleerup concluded by affirming, “Our clients' success is of the utmost importance – not only for commercial viability, but for our common efforts in pushing the envelope for what's possible to achieve in offshore wind energy expansion.”
