Cadeler has signed a Vessel Reservation Agreement (VRA) for a pipeline of wind projects in the Asia-Pacific region.
The VRA secures the availability of one of the Danish outfit’s two state-of the art newbuild M-Class vessels (artist’s impression pictured) and underlines its continued expansion in the Asia-Pacific market, said the company.
The aggregate potential value to Cadeler of the development pipeline, to be negotiated during the pendency of the VRA, is expected to be approximately €200m.
The pipeline of projects will meet the energy needs of approximately 1,360,000 households when fully operational.
The M-Class vessel expected to work on these projects is one of six newbuilds joining Cadeler’s fleet in the coming years (in addition to the Wind Peak, which Cadeler took delivery of last month).
“The Asia-Pacific market has significant growth potential and is of great interest to Cadeler,” said the company’s chief executive Mikkel Gleerup.
“Expanding our presence in that market with this VRA aligns with our global business strategy.
“With our first state-of-the-art newbuild received, and six additional newbuilds being delivered over the coming years, we will be able to handle the largest and most complex next-generation offshore wind installation projects, further building our backlog and ensuring that our customers and partners can look to Cadeler as offering the strongest choice of flexibility and supply-chain certainty.”