Windward Offshore has secured senior loan financing of up to €182 million for the construction of four offshore wind service vessels, marking a significant step in the company's efforts to expand its fleet for the offshore wind industry.
The financing agreement, structured with Crédit Agricole Corporate and Investment Bank and Export Finance Norway (Eksfin), will be drawn in tranches as each vessel is delivered. The agreement underlines strong backing for Windward Offshore's growing role in the offshore wind sector.
Bastian Hagebeuker, Managing Director of Windward Offshore, expressed his satisfaction with the deal, stating, “We are grateful for this new partnership with top lenders Crédit Agricole and Eksfin, securing this very attractive financing for our fleet. It underlines the parties' dedication to support the growth of the offshore wind industry and marks the start for a longstanding collaboration in the future.”
Construction of the four Commissioning Service Operation Vessels (CSOVs) is currently underway at the Vard shipyard, with the first vessel, Windward Athens, already completed. The vessel was launched at the Vard Tulcea shipyard in Romania last week. The CSOVs are designed to enhance the efficiency and safety of offshore wind farm commissioning and operations.
The vessels are scheduled for delivery in 2025 and 2026 and are central to Windward Offshore's strategy to provide service solutions to the expanding offshore wind market.
