Cadeler has signed the largest contract in the history of the company, for an as yet unspecified offshore wind project
Siemens Gamesa has awarded it a contract worth approximately US$90M, with an additional US$30M in options, to transport and install SG 14-222 DD turbines. The installation company told OWJ it could not yet confirm which project the contract is for.
Cadeler chief executive Mikkel Gleerup said, “We are extremely pleased Siemens Gamesa has chosen us to help them realise another of their projects.
“Boundaries in terms of size and capacity are being pushed in our industry, and we are constantly evolving to be able to support our clients throughout this development. With the crane upgrades for our fleet and our planned newbuild X-class vessel, we can do just that.”
Cadeler recently raised Nkr883M (US$103M) in connection with an Oslo Stock Exchange listing in November 2020.
The proceeds are to be used to finance the initial instalment for the planned order of a Cadeler X-class newbuild vessel.
The remaining proceeds are expected to be used for working capital, general corporate purposes, repayment of any outstanding inter-company balances and repayment of any amounts under the overdraft tranche of the company’s debt facility.
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