Edda Wind to sell service operation vessel Mistral Enabler

The sale is taking place via Edda Wind’s subsidiary West Energy, which has entered into a sale and purchase agreement regarding the sale of all outstanding shares in Puerto de Llafranc SL, the registered owner of the vessel.

The transaction is subject to customary closing conditions and closing is expected to take place early April 2025.

Mistral Enabler is currently working on a contract for Ørsted. In connection with the sale, the contract with Ørsted will be novated to the new owner.

The proceeds from the sale will be used for general corporate purposes, including repaying outstanding debt related to Mistral Enabler, and will further strengthen the company’s liquidity position and balance sheet.

In a statement, Edda Wind said, “With a liquid and solid balance sheet, the company is in a good position to evaluate growth opportunities. The sale of Mistral Enabler optimises, aligns and homogenises the company’s fleet of SOVs and commissioning service operation vessels (CSOVs), all of which are prepared for zero-emissions operation utilising a liquid organic hydrogen carrier and/or methanol as an energy source.”

The sale of Mistral Enabler follows the sale of a sister vessel, Edda Passat, which the company sold in March 2024. Following the sale of Mistral Enabler, the company will own and operate two purpose-built offshore wind SOVs and five CSOVs. In addition, the company has five CSOVs under construction, of which four vessels are due to be delivered in Q2 2025.

In a separate statement, Northern Offshore Services said it had entered into an agreement to acquire the vessel, which will be renamed Northern Ocean. The acquisition is being made through a new holding company, together with Swedish shipping company Rederi AB Älvtank.