Danish offshore wind installation contractor Cadeler has announced the signing of two firm contracts covering the full-scope transportation and installation of offshore wind turbines and their foundations for an undisclosed upcoming offshore wind farm.
The combined value of the two contracts is projected to be approximately €500 million ($530 million).
The foundations transportation and installation campaign is set to commence in early 2029 and will be executed using one of Cadeler’s newbuild vessels. The company noted that this is its third full-scope foundation transportation and installation campaign.
The turbine installation scope is scheduled to begin in early 2030, following the foundation work, and will be carried out by one of Cadeler’s jack-up vessels, with completion expected by late 2030.
The contracts are subject to the client’s final investment decision in the project. If the client does not proceed, the agreements may be terminated subject to a termination fee.
Cadeler currently operates a fleet of nine wind installation vessels, with a further three under construction.