Cadeler secures more work for foundation installation newbuild three years before delivery

Oslo-listed offshore wind contractor Cadeler has sealed a deal with an unnamed client for its wind turbine foundation installation newbuilding set to deliver in the fourth quarter of 2025.

The Copenhagen-based company said it has secured utilisation of the so-called F-class vessel to be built by Cosco Heavy Industries for a period of up to four years.

The deal comes with a minimum guaranteed utilisation from 2027 to 2030 and provides flexibility for the client to choose to either install foundations or wind turbines as the vessel’s hybrid design, allows for conversion into a wind turbine installation unit.

The vessel has already been booked to install turbine foundations at the Hornsea Three offshore wind farm commencing in 2026, after which it will start executing the new contract, potentially worth more than €330m ($319m) if all options are exercised. The deal also gives the option to Cadeler to bid for the transport and installation scope.

The BW Group-backed Cadeler currently has two O-class installation vessels, Wind Orca and Wind Osprey, and three vessels booked for construction at Cosco Shipyard, including a pair of X-class wind turbine installation vessels, plus an option for an additional F-class ship.