Edda Wind has ordered four commissioning service operation vessels (CSOV) newbuilds.
The first two vessels, delivered from Vards Norwegian yards, are expected to be delivered in Q1 2025, the third in Q2 2025, and the fourth in Q1 2026, both delivered from Vards Vung Tau yard in Vietnam.
The company has also secured options for additional two plus two CSOVs.
With delivery of these additional four newbuilds, Edda Wind will boost its fleet to 14 vessels (of which two vessels are currently in operation, with five more expected to commence operation in 2023.
The vessels have been designed exclusively for Edda Wind in collaboration with Vards.
The vessels will be prepared for zero-emission operations based on a Liquid Organic Hydrogen Carrier (LOHC) concept in addition to being methanol ready.
The vessels will function as mother vessels for wind turbine technicians as they perform commissioning and maintenance work on the wind turbines.
Edda Wind intends to finance the vessels through a combination of debt and equity.
“I am very proud of the transaction Edda Wind has concluded and of the new vessel orders,” said Kenneth Walland, CEO of Edda Wind.
“This manifests the company’s position as the leading CSOV owner and operator in the market. A larger fleet benefits Edda Wind’s ability to offer clients flexibility and contingency and enables a meaningful presence in the promising short-/medium-term market. Further, Edda Wind expects to benefit from scale in achieving attractive financing as well as lower operating expenses and redundancy in our operations.”