Cadeler has secured a €247 million ‘green’ loan to help finance the build of its next-generation offshore wind installation vessel (WTIV) Wind Apex just as the second of three WTIVs has been delivered.
The vessel, under build in China, will no doubt be welcomed by the offshore wind industry, which is struggling with a global lack of WTIVs.
It is the third A-class vessel to be commissioned by Cadeler, whose fleet will number 12 when all have been delivered, and is due to be delivered in the first half of next year.
Wind Ally, pictured, was delivered in September 2025 and is now in service, and Wind Ace was delivered yesterday, July 17.
Wind Apex will have deck space of 5,600m2 with a payload capacity of more than 17,000 tons and accommodation for 130 people. The main crane will be able to joist more than 3.300 tons and it will be powered by 21.6MW gensets with four 4MW Azimuth thrusters, two 2.2MW Retractables and three 3MW Tunnel thrusters.
The financing, structured under Cadeler’s Green Finance Framework, was arranged by HSBC, with KfW IPEX-Bank, Rabobank and DNB Bank joining the lending syndicate.
Once delivered, Wind Apex will be among the world’s largest WTIVs. Like her A-class sister ships, she will be capable of transporting and installing the latest generation of XXL offshore wind turbines, with a deck space of around 5,600 m², a payload of more than 17,000 tonnes and a main crane capable of lifting approximately 2,600 tonnes. The vessel is designed to handle turbines exceeding 20MW as the offshore wind industry moves towards ever larger machines.
“We are pleased to have secured this financing for Wind Apex together with a strong group of international banking partners,” said Cadeler CEO Mikkel Gleerup. “Their backing reflects continued confidence in Cadeler and our ability to deliver the offshore wind installation capacity our customers need.”
The additional vessel comes at a critical time for the offshore wind sector. Industry analysts continue to warn that global demand for heavy-lift wind turbine installation vessels is outstripping supply as turbine ratings increase and governments accelerate offshore wind deployment. Modern jack-up vessels capable of installing 15-20+ MW turbines remain relatively scarce, while many older vessels lack the crane capacity, deck strength or leg length required for the newest projects.
Although the global fleet of purpose-WTIVs has expanded rapidly in recent years, it still numbers only a few dozen ships. Owners including Cadeler, Van Oord, Jan De Nul, DEME, Havfram and Fred. Olsen Windcarrier are investing heavily in larger newbuilds, but demand is expected to remain tight through the latter part of the decade.
