Edda Wind orders four Csovs from Fincantieris Vard Maritime India News

Italian shipbuilder Fincantieri, through its subsidiary Vard, has signed a contract with offshore wind vessel operator Edda Wind for the construction of four Commissioning Service Operation Vessels (CSOV).

The first two ships are expected to be delivered in the first quarter of 2025, the third in the second quarter of 2025, and the fourth in the first quarter of 2026. The contract has a total value of about $250 million, Fincantieri said.

Edda Wind has also secured options for 2+2 additional CSOVs at the same contract prices, with deliveries in 2025 and 2026 if declared.

The first two ships will be delivered by Vards Norwegian shipyards. The third and fourth ships will both be delivered by Vard’s shipyard in Vung Tau, Vietnam© Edda Wind

The ships will act as mother ships for wind turbine technicians who will perform commissioning and maintenance work on the wind turbines.

According to Edda Wind, 101 comfortable staterooms and high standard common areas will accommodate up to 95 technicians and 25 ship crews on board.

“Anti-heeling and roll reduction systems ensure good working conditions on board. The motion-compensated gangway system with an adjustable base ensures safe and optimal connections to the turbines, even in rough weather conditions. The design is optimized for fuel efficiency and efficient logistics operation for the turbine technicians,” said Edda Wind.

The ships of the Vard 4 25 design were created exclusively for Edda Wind in a collaboration between the companies. The ships are being prepared for emission-free operation based on a Liquid Organic Hydrogen Carrier (LOHC) concept and are also suitable for methanol.

“Edda Wind intends to finance the ships through a combination of debt and equity. A private placement of NOK 1,200 million will cover the equity portion of the financing. Edda Wind’s four largest shareholders, Østensjø Wind AS NOK 120 million, Wilhelmsen New Energy AS NOK 300 million, Geveran Trading Co Ltd NOK 275 million and EPS Ventures Ltd NOK 275 million have already committed around NOK 1 billion to the placement. The Company has good relationships with its banks and expects the ships to be fully financed pre-delivery,” added the shipowner.

Edda Wind currently has two vessels in operation, with five more scheduled to begin operations in 2023.

Related Articles

Back to top button