The Danish offshore shipping company Cadeler has ordered two more Wind Turbine Installation Vessels (WTIV) in China.
They will be built at the Cosco Shipping Heavy Industry shipyard. The company has received a loan of more than €500 million for this purpose, including from KfW Ipex.
The ships are scheduled for delivery in the second halves of 2025 and 2026. They will be equipped for the installation of monopiles, but can be converted for the installation of jackets and turbines as required, making them flexible in use. In terms of size and equipment, the vessels are also designed in such a way that they can be used in the future to install the next generation of wind turbines and the foundations required for them.
Cadeler newbuildings become methanol-ready
Both conventional marine diesel and biodiesel are planned as fuel in a dual-fuel propulsion system. The ships are also designed to be able to run on methanol in the future. Accumulators and an associated shore power system will also be installed. Substantial parts of the modern technology will be supplied from Europe.
As part of a consortium of commercial banks, KfW Ipex-Bank facilitated the financing of the two ships. The total amount amounts to € 525 million, with cover provided by the export credit insurers Eksfin and Sinosure. KfW Ipex’s share is €60 million
“Advancing the construction of offshore wind farms is one of the key prerequisites for the energy transition,” said Aida Welker, Member of the Management Board of KfW Ipex. “We are delighted to support our valued client, the renowned company Cadeler, in its determined and forward-looking investment in the next generation of WTIVs. In doing so, we are making a further contribution to a functioning offshore wind industry.”
