Norwegian maritime major Wilhelmsen has announced that it will acquire 25% of Østensjø Group’s expanding offshore wind company Edda Wind.
Launched in 2018, Edda Wind owns and operates service vessels supporting the maintenance work conducted during the commissioning and operation of offshore wind farms.
“The Wilhelmsen group’s strategy is very clear, to further expand into renewables, by working together with partners, and leveraging our expertise and assets. So, finding an opportunity like this to work with Østensjø and invest in Edda Wind, a growing company, rapidly expanding its fleet with future-focused emission free vessel technologies is ideal,” says Thomas Wilhelmsen, CEO of the Wilhelmsen group.
Reflecting the rapid development of the offshore wind market, Edda Wind currently has two vessels in service, and four cutting edge, low-emission service vessels on order with yards. Long-term charter agreements are in place for two of the newbuilds ahead of their expected delivery in 2022. Østensjø Rederi will continue to manage the Edda Wind fleet.
With clear ambitions to target growth regions such as the US East Coast and Asia, the time was right for Norwegian towage and offshore service vessel owner Østensjø to join forces with a forward looking, experienced global maritime partner like Wilhelmsen, willing and able to play an active role in taking Edda Wind to the next level.
The parties have agreed not to disclose any details related to the financial transaction. As part of the shareholder agreement, it has been decided that Håvard Framnes, Johannes Østensjø, Jan-Eyvin Wang and Geir Flæsen will head up the board with two directors from each owner. Kenneth Walland will be Chief Executive Officer and Ervin Horn will be Chief Financial Officer.
Wilhelmsen has also secured an option to buy another 25% before June 2021.
By Jake Frith