Cadeler announced the signing of two firm contracts totaling approximately €500 million for foundation and turbine installation services on an upcoming offshore wind farm. The client has not been disclosed, and the contracts are contingent on the client’s investment decision, with a termination‑fee provision if the project is not pursued.
The foundation T&I campaign is slated to begin in early 2029 and will be executed with one of Cadeler’s new A‑class vessels. The turbine installation scope is scheduled to start in early 2030, carried out by an O‑class jack‑up vessel, with completion expected by late 2030.
These wins add a significant new revenue stream to Cadeler’s already robust backlog and reinforce its position as a full‑service provider in the foundation and turbine installation space. The contracts demonstrate continued demand for Cadeler’s specialized fleet and support the company’s strategy to capture growth in the next‑generation offshore wind market.
Cadeler’s order backlog has grown to €2.5 billion as of early 2025, and the company has been aggressively expanding its fleet, delivering its first A‑class vessel in September 2025 and ordering a third for 2027. The new contracts fit into this broader strategy, providing medium‑term visibility and allowing Cadeler to deploy its high‑capacity vessels on high‑value projects.
CEO Mikkel Gleerup emphasized that Cadeler’s full‑service approach and fleet flexibility are key to securing such contracts, noting that the company’s ability to handle both foundation and turbine installation “aligns with market demand and positions Cadeler as a preferred partner for large offshore wind developers.”
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