Danish offshore wind installation service provider Cadeler orders two wind turbine installation vessels for $930 million

en.Wedoany.com Reported - Danish offshore wind installation service provider Cadeler has signed two formal construction contracts with China's Qidong COSCO Shipping Heavy Industry to build two T-class offshore wind turbine installation vessels. The total contract value is approximately €805 million, equivalent to about $930 million, with deliveries scheduled for 2030 and 2031 respectively.

The two new vessels will primarily target large-scale offshore wind foundation transport and installation operations. Cadeler stated that the T-class vessels are designed in response to expanding project scales, heavier foundation structures, and increased construction complexity. The company has already begun discussing vessel deployment arrangements with potential customers but has not yet disclosed initial project contracts.

This signing converts the proposed investment plan disclosed by Cadeler in March this year into formal shipbuilding orders. At that time, the company raised approximately €175 million through a private placement to cover the initial capital expenditure for the two T-class vessels; the remaining construction funds are expected to come primarily from operating cash flow and debt financing.

Qidong COSCO Shipping Heavy Industry has previously built multiple offshore wind turbine installation vessels for Cadeler. The new orders continue the cooperation between the two parties and will further increase Cadeler's vessel supply capacity in the next-generation turbine and large monopile foundation installation market.