Cadeler has signed firm contracts with COSCO Shipping Offshore in Qidong, China, for two new offshore wind installation vessels. The vessels are scheduled for delivery in 2030 and 2031, with the contracts valued at approximately €805 million ($930 million) in total.
The investment will be funded through equity financing secured earlier this year as part of Cadeler's long-term expansion strategy in the offshore wind sector.
The order extends the company's existing relationship with the Chinese shipyard, which has built several vessels under Cadeler's current newbuilding programme.
"As offshore wind projects become larger and more technically demanding, developers need installation partners with the experience, specialised capabilities and modern fleet to deliver them safely and reliably," said Cadeler Chief Executive Officer Mikkel Gleerup.
He added that the company was pleased to continue its collaboration with COSCO Shipping Offshore following years of cooperation.
The new vessels are intended to support its entry into additional offshore wind installation projects. The company said discussions with key clients regarding employment for the vessels are already underway.