Cadeler Signs $578.3 Million Deals for Offshore Wind Turbine, Foundation Work

MT Newswires Live11-10

Cadeler (CDLR) said Monday it has signed two firm contracts worth about 500 million euros ($578.3 million) for the transportation and installation of offshore wind turbines and their foundations at an upcoming wind farm project.

The company said the foundation transport and installation campaign will begin in early 2029 using one of its new A-class vessels.

It added that turbine installation is scheduled to start in early 2030 and be completed by the end of that year with an O-class jack-up vessel.

Cadeler said that both contracts are subject to the client's final investment decision. If the project does not proceed, the agreements may be terminated with a fee, it said.

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