en.Weodoany.com Report on Mar 27th, Danish offshore wind contractor Cadeler recently raised approximately $203 million (€175 million) through a private placement. The funds will primarily support planned investments in new offshore wind turbine installation vessels and potential asset acquisition projects.

The proceeds will be used for the initial capital commitments for two planned new T-class wind turbine foundation installation vessels, as well as the potential acquisition and conversion of a scour protection vessel. The private placement was completed at a price above the company's five-day volume-weighted average price.

Cadeler is in advanced discussions regarding the two T-class vessels, with expected delivery times in 2030 and 2031. These projects are expected to be financed by approximately 65% debt, with the majority of capital commitments falling due after 2029.

The investment structure is designed to preserve Cadeler's ability to return capital to shareholders, supported by the company's strong operating cash flow, robust balance sheet, and limited near-term capital commitments.

Cadeler is also evaluating the acquisition and conversion of a scour protection vessel to enhance its foundation transportation and installation capabilities and reduce reliance on subcontractors. The company stated that it expects favorable long-term utilization and pricing, citing an anticipated shortage of wind turbine foundation installation vessels starting from 2029.