Navigare Capital raises offshore wind wager with up to three CSOV newbuilds for Norwind Offshore
Denmark’s Navigare Capital Partners Norwegian is expanding its footprint in the offshore wind sector with up to three more commissioning service operation vessel newbuilds for Norwegian shipowning company Norwind Offshore.
The Copenhagen-based alternative investment fund manager has struck a deal with Fincantieri-controlled Norwegian shipbuilder Vard for one firm CSOV, delivering in the first quarter of 2026, with options for two additional newbuilds.
The latest order takes CSOV vessels Norwind Offshore and Navigare Capital contracted with Vard to five, in addition to the conversion of a platform supply vessel to a service operation vessel (SOV). The first CSOV built for Norwind Offshore, Norwind Gale, is in operation, while the next three vessels will be delivered in March, August, and November 2024.
Navigare Capital, which has containers, bulkers, tankers and gas carriers in its portfolio, entered the offshore wind support vessel segment in May 2022 with an investment in Farstad and Volstad-backed Ålesund-based outfit Norwind and its newbuilds.
The company established in 2017 currently has three funds under management, and its third ‘Maritime Investment Fund’ has recently been boosted by nearly $350m, with plans to see this number reach $650m in committed capital from investors.
Navigare Capital said the funds would be directed towards several shipping segments, with a key focus on contributing to the green transition, as well as vessels that support the development of offshore wind, which has now been firmed up with the Vard order.
