Danish offshore wind installation firm Cadeler has secured a vessel reservation agreement for one of its newbuild wind turbine installation vessels for a pipeline of offshore wind projects in the Asia-Pacific region.
The vessel reservation agreement secures the availability of one of Cadeler’s two newbuild M-Class vessels.
The aggregate potential value to Cadeler of development pipeline, to be negotiated during the pendency of the agreement is expected to be approximately $223 million (€200 million).
The pipeline of projects will meet the energy needs of approximately 1,360,000 households when fully operational.
The newbuild M-Class vessel that is expected to work on these projects is one of six newbuilds that will be joining Cadeler’s fleet in the coming years - in addition to the Wind Peak, which Cadeler took delivery of last month.
“The Asia-Pacific market has significant growth potential and is of great interest to Cadeler. Expanding our presence in that market with this vessel reservation agreement aligns with our global business strategy.
“With our first state-of-the-art newbuild received, and six additional newbuilds being delivered over the coming years, we will be able to handle the largest and most complex next-generation offshore wind installation projects, further building our backlog and ensuring that our customers and partners can look to Cadeler as offering the strongest choice of flexibility and supply-chain certainty,” said Mikkel Gleerup, CEO of Cadeler.