The Export and Investment Fund of Denmark (Danmarks Eksport og Investeringsfond; EIFO) has issued a buyer credit guarantee to Ostfriesische Volksbank and German company MPC OSE Offshore, thus securing the financing of three new offshore wind specialist vessels being built by Esbjerg Shipyard.
With the support of EIFO, Esbjerg Shipyard has entered into an agreement with MPC OSE Offshore to build the first three of up to six offshore survey and service vessels (OSSVs).
The steel hulls of the OSSVs are being built in Poland, while the outfitting will take place at Esbjerg Shipyard. Around 50 Danish subcontractors are involved in the construction.
EIFO is providing a buyer credit guarantee of just under DKK180 million (US$28 million). This guarantee will cover 80 per cent of a total loan of DKK224 million (US$34.8 million), which is being provided by a German banking consortium led by Ostfriesische Volksbank.
MPC OSE Offshore is a partnership formed by German investment company MPC Capital and offshore specialist OS Energy with the aim of building a new series of low-emission service vessels for supporting activities at offshore wind farms, including those in the North Sea and Baltic Sea.
The goal is to construct up to six OSSVs, which will be used for various tasks throughout the entire lifecycle of wind farms from commissioning to decommissioning.