Cadeler orders two wind turbine installation vessels from Qidong shipyard in China, contract value approx. EUR 805 million

en.Wedoany.com Reported - Danish offshore wind installation service provider Cadeler has signed a contract with COSCO Shipping Offshore shipyard in Qidong, Jiangsu, under COSCO Shipping, for the construction of two T-class offshore wind turbine installation vessels, with a total value of approximately EUR 805 million. The two new vessels are scheduled for delivery in 2030 and 2031, respectively.

The T-class vessels will be upgraded based on Cadeler's existing A-class platform, primarily targeting the transportation and installation of next-generation large offshore wind turbines and infrastructure. Cadeler stated that it is currently in discussions with multiple clients regarding the future deployment arrangements for the two new vessels.

In March this year, Cadeler completed a private placement of approximately EUR 175 million to raise funds for the two T-class vessels and other fleet investments. According to previously announced financing arrangements, approximately 65% of the capital expenditure for the new vessels is expected to be financed through debt, with the majority of funds to be paid after 2029.

The Qidong shipyard has previously built multiple offshore wind turbine installation vessels for Cadeler. Among them, the A-class vessel Wind Ally was delivered in 2025, Wind Ace was delivered in July 2026, and the third vessel, Wind Apex, is scheduled for delivery in the first half of 2027. The order for these two T-class vessels further expands the cooperation between the two parties in the high-end offshore wind equipment sector.