Cadeler acquires Chinese jack-up vessel for O&M work

The wind turbine installation vessel is being acquired from Shanghai Boqiang Heavy Industry Group Co Ltd, expanding Cadeler’s fleet and enhancing its capacity to undertake operation and maintenance (O&M) work.

The vessel will be renamed Wind Keeper. It was completed in 2024 and fitted with European equipment, including a Huisman main crane with lifting capacity of 2,200 tonnes, a Kongsberg DP2 dynamic positioning system, MAN engines and a Siemens propulsion system. The jack-up has 120-m long jack-up legs that will enable it to work on the most challenging sites.

Cadeler expects to take delivery of Wind Keeper in Q3 2025, for a purchase price significantly below the vessel’s estimated replacement cost.

Cadeler will invest in certain upgrades to improve the jack-up’s operational capacity and align its onboard offering with that of Cadeler’s existing fleet. After the upgrades are completed, the vessel will be capable of supporting new installations in the 15-MW segment.

The company said the acquisition is fully debt financed on attractive terms, with a facility provided by DNB Bank ASA.

“With the installed base of offshore wind turbines growing substantially, there is a greater need than ever for reliable and flexible O&M support to ensure uptime and maximise energy production,” said Cadeler chief executive Mikkel Gleerup.

“As an installation-capable, service-oriented asset, Wind Keeper will be a valuable addition to our fleet. We scrutinised every available asset, and Wind Keeper was the clear standout as the only vessel with the technical capabilities and quality of construction necessary to be adequately future-proofed. It is on the water already and so will generate value and revenue much sooner than a newbuilding.”

Cadeler said it is assessing the positive impact of Wind Keeper’s delivery on its 2025 revenue and EBITDA guidance.