OHT Secures Green Loan for Alfa Lift

Norway’s OHT Alfa Lift AS has received and accepted a firm offer, subject to satisfactory documentation, for a USD 135 million Senior Secured Green ECA Credit Facility.

The loan is for the post-delivery financing of the company’s wind foundation installation vessel Alfa Lift.

The facility, to be drawn upon delivery of the vessel, has a five-year term and a 12-year repayment profile.

DNB Bank ASA is the bookrunner and coordinator, and together with Sparebank 1 SR-Bank ASA, the mandated lead arranger.

Further, the Norwegian Export Credit Agencies GIEK and Eksportkreditt are supporting the facility, with their tranche estimated at USD 82.6 million.

Alfa Lift is currently under construction at China Merchants Heavy Industry (CMHI) shipyard in Jiangsu, China.

The vessel’s crane will have a maximum lifting capacity of 3,000 tonnes at 30 metres and 1,000 tonnes at 76 metres outreach. The 216.3-metre vessel will also have a 10,000+ m² “smart deck” that can carry up to 14 giant monopiles per trip, and will be fully submersible to a depth of 14.66 metres.

Designed by OHT in close cooperation with Ulstein Design & Solutions and DNV GL, Alfa Lift will be capable of installing all types of bottom-fixed offshore wind foundations and will also transport and install topsides and subsea modules, in addition to other heavy cargoes within oil and gas.

The vessel is expected to be delivered at the end of 2021 or in early 2022.