Cadeler signs firm €80m contract for Taiwanese offshore wind farm

Offshore wind installation contractor Cadeler has signed a firm contract with Synera Renewable Energy (SRE) for the transportation and installation of 35 14MW Siemens Gamesa wind turbines at the Formosa 4 offshore wind farm in Taiwan. The project is scheduled to be executed by one of Cadeler’s new wind turbine installation vessels.

The company said that transportation and installation operations are set to commence in March 2028 and will last for approximately 150 days. The revenue for Cadeler from this contract is projected to be between €70 million and €80 million.

This firm contract is for a portion of the work covered by a reservation agreement that Cadeler first disclosed in September 2024, which secured two offshore wind projects in the region. The company stated that negotiations are ongoing for the second of those projects.

The 495 MW Formosa 4 wind farm is located 18 to 20 kilometres off the coast of Miaoli County, with the turbines set to be installed in water depths of between 57 and 64 metres.

Mikkel Gleerup, CEO of Cadeler, stated that the project further anchors the company’s strategic presence in the Asia-Pacific region, where it has a local office in Taipei and two vessels currently operating.