Cadeler wins major offshore wind deal

If all options with the undisclosed client come to fruition during the four-year agreement, Cadeler stands to benefit to the tune of between €400 million and €700 million.

The project is slated to begin in 2027 and will involve one or more vessels from Cadeler’s fleet including a newbuild A Class vessel currently under construction.

“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,” said Mikkel Gleerup, chief executive of Cadeler.

“Cadeler remains committed to accompanying our clients’ needs with innovative solutions and unparalleled service, ensuring the realisation of their renewable energy project within budget and on time.”

Cadeler’s fleet of vessels for offshore wind farm installation projects will be used for transport and installation of both foundations and wind turbine generators.

The deal relies on the successful outcome for the client in an upcoming 2024 auction.