In a landmark deal, Cadeler has signed an Installation Vessel Reservation Agreement with an undisclosed client, marking the largest agreement in the company’s history. If all options are exercised over the four-year term, the deal could be worth between €400 and €700 million. This agreement secures the deployment of Cadeler’s versatile fleet of wind farm installation vessels, including a newbuild A Class vessel currently under construction, with operations slated to begin in 2027.
Cadeler’s fleet is renowned for its state-of-the-art technology, tailored for the installation and transport of offshore wind farm foundations and wind turbine generators (WTGs). This deal underscores the growing significance of renewable energy initiatives and positions Cadeler as a key player in the global shift towards offshore wind energy.
Mikkel Gleerup, CEO of Cadeler, commented on the deal: “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. Cadeler remains committed to accompanying our clients’ needs with innovative solutions and unparalleled service, ensuring the realization of their renewable energy project within budget and on time. Our clients’ success is of the utmost importance – not only for commercial viability, but for our common efforts in pushing the envelope for what’s possible to achieve in offshore wind energy expansion.”
The agreement’s execution hinges on the undisclosed client’s success in an upcoming 2024 auction, which will determine the project’s final go-ahead. This deal not only secures Cadeler’s position at the forefront of renewable energy solutions but also aligns with global efforts to enhance sustainability in the energy sector.
Cadeler’s commitment to renewable energy is reflected in their strategic investments and fleet capabilities. By offering cutting-edge vessels and flexible service solutions, Cadeler ensures that clients can meet their project goals efficiently and sustainably. This new agreement is a testament to Cadeler’s strategic foresight and dedication to leading the offshore wind energy transition.
The reservation of these vessels will allow Cadeler to leverage maximum efficiency and synergy, ensuring that both foundation and turbine installations are handled with the utmost precision and minimal environmental impact. With a focus on reducing emissions and enhancing operational capabilities, Cadeler’s fleet is set to play a critical role in the future of offshore wind energy.
As the renewable energy sector continues to grow, Cadeler’s proactive approach and robust fleet capabilities place them in an advantageous position to meet the increasing demand for sustainable energy solutions. This historic agreement marks a significant milestone not only for Cadeler but for the renewable energy industry as a whole.
