Copenhagen, Denmark, headquartered wind farm installation specialist Cadeler (OSE: CADLR) has signed a $651 million contract with Chinese shipbuilder COSCO Shipping Heavy Industry Co., Ltd. to build two new X-class wind turbine installation vessels.
The new X-class will, per load, be able to transport and install seven complete 15 MW turbine sets or five sets of 20+ MW turbines.
Cadeler says the $325 million price tag on each vessel is up from the $300 cited for the first X-class vessel in its November IPO. This reflects upgrades made to the jacking system and main crane specification after detailed consultations with clients and partners and a surge in raw material prices and changes in exchange rates,
The first X-class vessel will be delivered by third quarter 2024 and has already been contracted by Siemens Gamesa to transport and install one hundred 14MW wind turbines at the Sofia Offshore Wind Farm in the North Sea;
The second X-class vessel is planned to be fully ready and operational in first quarter 2025.
Cadeler says that on completion of the two new X-class vessels it will operate the largest fleet in the industry in terms of loading capacity and ability to transport, service and install the next generation offshore wind turbines.