Denmark-based offshore wind installation player Cadeler has won a contract for the wind farm installation vessel Wind Scylla with an undisclosed client.
with an undisclosed client.BW Group and Scorpio-backed company said that the contract had a value between $75m and $150m, including both the firm period and potential options.
The installation work is set to begin in 2025. During the project duration, spanning between 300 and 550 days, the client will utilize Cadeler’s team and fleet to complete the project.
“This contract showcases Cadeler’s commitment to providing fleet flexibility to our trusted clients, optimizing the chances of project success and completion within time and budget,” said Mikkel Gleerup, CEO of Cadeler.
Earlier this month, the company secured additional capital by upsizing its €50m ($54.1m) HSBC green loan to help fund the construction of newbuilds and upgrade the existing vessels. The five-year unsecured green loan came with a non-committed accordion option of up to €50m, which has now been increased to €80m ($86.6m).
