Cadeler Secures Work for Newbuild Wind Turbine Installation Vessel in Asia-Pacific

September 30, 2024, by Adnan Durakovic

Cadeler has signed a Vessel Reservation Agreement (VRA) for a pipeline of offshore wind projects in the Asia-Pacific region.

The VRA secures the availability of one of Cadeler’s two newbuild M-Class wind turbine installation vessels for two projects in the Asia-Pacific market.

The aggregate potential value to Cadeler of development pipeline, to be negotiated during the pendency of the VRA, is expected to be approximately EUR 200 million.

The pipeline of projects will meet the energy needs of approximately 1,360,000 households when fully operational, Cadeler said.

The newbuild M-Class vessel that is expected to work on these projects is one of six newbuilds that will be joining Cadeler’s fleet in the coming years, in addition to the Wind Peak, which Cadeler took delivery of last month.

The signing of this contract is said to underline Cadeler’s continued expansion in the Asia-Pacific market.

”The Asia-Pacific market has significant growth potential and is of great interest to Cadeler,” Mikkel Gleerup, CEO of Cadeler, said.

”Expanding our presence in that market with this VRA aligns with our global business strategy. With our first state-of-the-art newbuild received, and six additional newbuilds being delivered over the coming years, we will be able to handle the largest and most complex next-generation offshore wind installation projects, further building our backlog and ensuring that our customers and partners can look to Cadeler as offering the strongest choice of flexibility and supply-chain certainty.”