Wilhelmsen will acquire up to 50% of Ostensjo’s offshore wind vessel outfit Edda Wind.
The company will initially acquire 25% of Edda Wind and has also secured an option to buy another 25% before June 2021.
Edda Wind, launched in 2018, owns and operates service vessels supporting the maintenance work conducted during the commissioning and operation of offshore wind parks.
Wilhelmsen CEO Thomas Wilhelmsen said: “The Wilhelmsen group’s strategy is very clear, to further expand into renewables, by working together with partners, and leveraging our expertise and assets.
“So, finding an opportunity like this to work with Ostensjo and invest in Edda Wind, a growing company, rapidly expanding its fleet with future-focused emission free vessel technologies is ideal.”
He added: “With our unrivalled global network, decades of in-depth logistical and operational expertise and experience in the renewable space, through our NorSea and Elevon interests, Wilhelmsen is uniquely equipped to help unlock Edda Wind’s enormous potential.
“We also know a thing or two about hydrogen as a marine fuel, which might come in handy for the future vessels.”
Edda Wind has two vessels in service and four low-emission service vessels on order with yards.
Long-term charter agreements are in place for two of the new builds ahead of their expected delivery in 2022.
Ostensjo Rederi will continue to manage the Edda Wind fleet.
Edda Wind CEO Kenneth Walland said: “Having two strong owners like Ostensjo and Wilhelmsen will be a huge advantage for Edda Wind, taking into account the growth that is expected in the offshore renewable market over the next years.
“We look forward to take advantage of the synergies between the two owners and are excited about further expanding our business with Wilhelmsen onboard.”
As part of the shareholder agreement, Havard Framnes, Johannes Ostensjo, Jan-Eyvin Wang and Geir Flaesen will head up the board with two directors from each owner.
Ervin Horn will be chief financial officer of Edda Wind.