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Cadeler A/S announces largest contract in company history

10 Mar 2021
Cadeler A/S announces largest contract in company history

Cadeler A/S (The Company or Cadeler), a key supplier within the offshore wind industry for installation services and operation and maintenance works, listed on the Oslo Stock Exchange (ticker CADLR), announces signing of the largest contract in the history of the Company.

Siemens Gamesa, a world leading supplier of wind power solutions, has awarded Cadeler a contract of approximately 90m USD, with an additional 30m USD in options, to transport and install turbines of the SG 14-222 DD model. The turbines are expected to be the largest wind turbines in the world at the time of installation and have an individual capacity of 14 MW. Each turbine will, over its 25-year lifetime, avoid approximately 1.4m tons of CO2 emissions compared to electricity produced by the burning of coal.

Mikkel Gleerup, CEO of Cadeler, said: “We are extremely pleased that Siemens Gamesa has chosen us to help them realize another of their projects in the world of renewable energy. At the same time, Cadeler achieves yet another important milestone, delivering on our commitments from our listing last year. This is naturally also very reassuring to me and the entire team at Cadeler”.

Cadeler’ s vessels will be able to install the wind turbines standing 252 meters in height from sea level to the tip of the rotor blade and with blades of an impressive 108 meters in length.

“Boundaries in terms of size and capacity are being pushed constantly in our industry, and we are constantly evolving to be able to support our clients continuously throughout this development. With the crane upgrades for our fleet and our planned new-build X-class vessel, we can do just that. As such, with today’s announcement, our company has once again proven to be at the forefront in our industry and regarded as a trusted partner to the largest producers of wind turbines in the world”, said Mikkel Gleerup.

Cadeler successfully raised NOK 883 million in connection with the Oslo Stock Exchange listing in November 2020. As communicated, proceeds are to be used to finance the initial installment for the planned order of the Cadeler X-class new-build vessel, with remaining proceeds expected to be used for working capital, general corporate purposes, repayment of any outstanding intercompany balances and repayment of any amounts under the overdraft tranche of the Company’s EUR 95 million debt facility.

About Cadeler A/S:

Cadeler provides marine and engineering operations to the offshore wind industry with a strong focus on safety and the environment. Our reputation as provider of high-quality offshore wind support services, combined with our innovative vessel design, positions us to deliver premium level services to the industry. We continue to pursue new levels of efficiency, pushing beyond the current boundaries of the supply chain. We will enable and facilitate the global energy transition towards a future built on renewable energy.

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Photo Credit: Robbie Lauder / WAG Entertainment

Contact:

CEO, Mikkel Gleerup
mikkel.gleerup@cadeler.com 
+45 3246 3102

News and Press releases

Cadeler chooses Dutch designed Leg Encircling Cranes for the two future X-class vessels  01 Dec 2021
Cadeler reflags: Fleet of advanced wind installation vessels will onwards be sailing under Danish flag  29 Nov 2021
Cadeler A/S signs firm contract with Ørsted for execution of joint German offshore wind projects  11 Nov 2021
Cadeler A/S secures preferred supplier agreement for undisclosed project  04 Nov 2021
Cadeler A/S signs key contract with Dutch contractor Van Oord to assist in executing Dutch offshore wind project “Hollandse Kust Noord”  11 Oct 2021
Cadeler A/S is chosen as preferred supplier by Ørsted for installation of German projects  07 Oct 2021
Interim report H1 2021: Cadeler delivers 253% growth in revenue and returns to profitability during first half of 2021  24 Aug 2021
Cadeler signs USD 651 million contract with COSCO SHIPPING Heavy Industry to deliver two new X-class vessels  30 Jun 2021
Cadeler A/S calls option for replacement of crane on Wind Osprey  17 Jun 2021
Cadeler A/S announces significant fleet expansion due to strong market demand  29 Apr 2021
Cadeler publishes Annual Report 2020  06 Apr 2021
Cadeler A/S announces largest contract in company history  10 Mar 2021
Cadeler A/S expands with new office in Vejle  22 Dec 2020
Cadeler A/S contracts new and improved crane to meet future offshore wind market demand  18 Dec 2020
Cadeler A/S to host online presentation in connection with its first day of listing on Oslo Børs  26 Nov 2020
IPO - Result of the Offering - New director appointed  26 Nov 2020
Update on status of bookbuilding and expiry of the bookbuilding/application period  24 Nov 2020
Update on Offer Price and Status of Bookbuilding  24 Nov 2020
Announcement of terms for the initial public offering  16 Nov 2020
Intention to Float  05 Nov 2020
Meet Cadeler's Board of Directors  05 Nov 2020
Swire Blue Ocean is becoming Cadeler  08 Oct 2020
Cadeler A/S signs contract with DEME for installation campaign on Hornsea 2  20 Oct 2020
Swire Blue Ocean intends to order new build vessel and invest in upgraded cranes for Pacific Orca and Pacific Osprey  16 Sep 2020
Pacific Osprey and Pacific Orca received their best eCMID inspection results since construction  20 Apr 2020
Swire Blue Ocean enacts precautions against COVID-19  26 Mar 2020
New workshop installed on Pacific Orca to facilitate onboard maintenance of nacelles  04 Mar 2020
Pacific Osprey’s new upgraded crane boom is on its way to Denmark for installation  24 Jan 2020
Vattenfall and Swire Blue Ocean sign final contract for transportation and installation of turbines in the Hollandse Kust Zuid wind farm  14 Jan 2020
WindEurope Offshore 2019 is over, see you soon!  16 Dec 2019
Meet us at WindEurope Offshore 2019  18 Nov 2019
SBO exhibits at Offshore Energy 2019 in Amsterdam  30 Oct 2019
SBO participates in the Danish Royal visit to France  28 Oct 2019
SBO Area Manager in Taiwan, Matt Bowden, speaks at the 7th Asia Offshore Wind Day.  24 Oct 2019
Pacific Orca passes by Copenhagen on her way to Wikinger Offshore Windfarm  24 Sep 2019
Let’s stay safe together  28 Sep 2019
SBO has started maintenance and service following recent agreement with Siemens Gamesa Renewable Energy  22 Jul 2019
Exhibiting at the Offshore Energy exhibition, Amsterdam  17 Oct 2018
SBO strengthens business presence in Taiwan with the appointment of new Area Manager, Matt Bowden  30 Apr 2019
Pacific Osprey chartered by GeoSea NV for transport of OTM  27 Mar 2019
SBO installing deepest fixed turbine  25 Feb 2019
Swire Blue Ocean employee killed in Great Belt train accident  11 Jan 2019
Halfway on Beatrice Offshore Wind Farm  21 Dec 2018
A milestone reached on Beatrice Offshore Wind Farm  31 Oct 2018
Press Update – 27th August 2018, 11:00 CET  16 Jun 2021
Press Update – 24th August 2018, 14:00 CET  24 Aug 2018
Beatrice project kicked off to a successful start  03 Jul 2018
Pacific Orca completes installation on the EOWDC  06 Jun 2018
Grand Opening Event  20 Apr 2018
New headquarters  15 Feb 2018
Appointment of Mikkel Gleerup as Chief Executive Officer  16 Jun 2021
Lars Blicher retires from Swire Blue Ocean A/S  16 Nov 2017
SBO moves to new and bigger facilities  30 Oct 2017
Gemini Offshore Wind Park Completion  01 Sep 2016
Swire Blue Ocean A/S signs contract with Siemens for Beatrice Offshore Windfarm Ltd (BOWL) project  02 Jun 2016
Congrats to Bilfinger with completing Sandbank foundation installation  12 Feb 2016
Milestone reached on Gemini. Congrats to Van Oord  31 Aug 2015
UK Rampion Offshore Wind Farm – we are proud to have been chosen for foundation installation  01 Jun 2015
Decommissioning now also of the Gas Booster Platform B11  23 Feb 2015
New key contract signed with Bilfinger for the Sandbank project  29 Sep 2014
New key contract signed with EPCI contractor Van Oord  19 Sep 2014
Pacific Osprey setting efficiency records with WTG installation on the DanTysk wind farm  30 Aug 2014
Pacific Orca safely completes foundation installation on the Borkum Riffgrund 1 wind farm  29 Jul 2014
First complete WTG installed on DanTysk  10 Apr 2014
BR1 Foundation Installation  27 Jan 2014
Swire Blue Ocean successfully completes H7 decommissioning job  22 Aug 2013
Swire Blue Ocean naming ceremony for Pacific Osprey at Fayard in Denmark  02 Apr 2013
Swire Pacific Offshore takes delivery of world's largest Windfarm Installation Vessel  30 Jul 2012
Second Windfarm Installation Vessel ordered for Swire Blue Ocean A/S  09 Mar 2011
Swire Pacific Offshore acquires Blue Ocean Ships A/S  09 Feb 2011
Swire Blue Ocean is awarded a contract for turbine installation on the DanTysk project  17 Feb 2011
First Windfarm Installation Vessel ordered for Swire Blue Ocean A/S  10 Aug 2010
Swire Blue Ocean clinches contract with MHI Vestas Offshore Wind for the transportation and installation of wind turbine generators at Seagreen offshore windfarm  16 Jun 2021
Pacific Osprey’s upgraded crane is now fully operational  03 Jun 2020
Swire Blue Ocean enacts precautions against COVID-19 (1)  16 Jun 2021
Pacific Osprey’s new upgraded crane boom is on its way to Denmark for installation (1)  24 Jan 2020
Vattenfall and Swire Blue Ocean sign final contract for transportation and installation of turbines in the Hollandse Kust Zuid wind farm (1)  14 Jan 2020
Press Update – 27th August 2018, 11:00 CET (1)  16 Jun 2021
Press Update – 24th August 2018, 14:00 CET (1)  24 Aug 2018
Grand Opening Event (1)  16 Jun 2021
Appointment of Mikkel Gleerup as Chief Executive Officer (1)  16 Jun 2021
Lars Blicher retires from Swire Blue Ocean A/S (1)  16 Jun 2021
Offices

DENMARK

COPENHAGEN

Cadeler
Fairway House
Arne Jacobsens Allé 7
DK-2300 Copenhagen S


VEJLE

Cadeler
Enghavevej 9D, 1st Floor, Right
DK-7100 Vejle

Tel : +45 3246 3100
Email: enquiry.DNK@cadeler.com 

  

TAIWAN

Cadeler
12th Floor, No. 129, Minsheng E. Rd, Section 3
Songshan District
Taipei City

Tel: +886 9 5583 9202
Email: enquiry.TWN@cadeler.com