Cadeler Secures Up to $140M in Vessel Agreements with Equinor and Polenergia

Monday, May 13, 2024

Danish offshore wind installation firm Cadeler has secured vessel reservation agreements with Equinor and Polenergia joint ventures MFW Bałtyk II and MFW Bałtyk III, marking the first contract between the companies.

Both MFW Bałtyk II and MFW Bałtyk III are 50% owned by Equinor and 50% by Polenergia.

The aggregate potential value of the contracts to be negotiated during the pendency of the vessel reservation agreements is anticipated to fall within the range of $118-140 million.

Operations are scheduled to begin in 2027, Cadeler said, adding it will use both O-Class and a P-Class vessels from its fleet.

The Bałtyk 2 and Bałtyk 3 projects are wind farms situated in the Baltic Sea, approximately 27 and 40 km from the port of Łeba, respectively.

The projects entail the installation of 100 offshore wind turbines in the Polish Baltic Sea.

Once operational, these wind farms are projected to generate a combined capacity of 1440 MW, providing electricity to over two million households.

 “We’re pleased to announce yet another contractual milestone in Poland. The Polish market offers great business potential for Cadeler and we’re proud to help our partners accelerate the transition towards sustainable energy for more than two million households. This also marks our first contract with Equinor and Polenergia, setting the stage for new successful future partnerships,” said MikkelGleerup, CEO of Cadeler.

Categories: Offshore Vessels Renewable Energy Industry News Activity Europe Offshore Wind

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