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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

Press Releases

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
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
Cadeler A/S signs contract with DEME for installation campaign on Hornsea 2  20 Oct 2020
Swire Blue Ocean is becoming Cadeler  08 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
Swire Blue Ocean clinches contract with MHI Vestas Offshore Wind for the transportation and installation of wind turbine generators at Seagreen offshore windfarm  20 Jul 2020
Pacific Osprey’s upgraded crane is now fully operational  03 Jun 2020
Swire Blue Ocean enacts precautions against COVID-19  26 Mar 2020
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Vattenfall and Swire Blue Ocean sign final contract for transportation and installation of turbines in the Hollandse Kust Zuid wind farm  14 Jan 2020
Press Update – 27th August 2018, 11:00 CET  26 Mar 2020
Press Update – 24th August 2018, 14:00 CET  24 Aug 2018
Grand Opening Event  26 Mar 2020
Appointment of Mikkel Gleerup as Chief Executive Officer  26 Mar 2020
Lars Blicher retires from Swire Blue Ocean A/S  26 Mar 2020
Offices

DENMARK

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

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