Cadeler raises €86 million for new vessel
A wind turbine and foundation installer has raised €86 million to add a new installation vessel to its fleet, enabling it to offer the full range of services within the transportation and installation of wind farms.
Cadeler has completed a private placement of 26,175,532 shares at a price of NOK32.32 per share for gross proceeds of NOK846 million (€86 million).
The net proceeds will be used to part-finance a new F-class foundation installation vessel, which is scheduled for delivery in late 2025. The company, which has installed more than 500 foundations since 2013, also plans to secure an option for a second F-class newbuild.
“Working closely with our partners in the industry we see excellent deployment prospects for an F-class newbuild due to strong demand for foundation installation in the rapidly evolving offshore market,” said Mikkel Gleerup, chief executive at Cadeler.
F-class – a hybrid vessel
The F-class is a hybrid design allowing the vessel to install both foundations and wind turbine generators. It is capable of transporting up to six XL monopoles weighing 2,300 to 2,600mt each per round trip.
The F-class is based on an existing design – the X-class – two of which are scheduled for delivery to Cadeler in Q3 2024 and Q1 2025.
