Edda Wind orders anorther CSOV from Spanish shipyard

Norwegian offshore wind services company Edda Wind ASA (FRA:VR1) will expand its fleet to 10 vessels after ordering its eighth ship from Spain’s Gondan Shipbuilders, according to a news release today.

The new commissioning service operation vessel (CSOV) will perform service operations during the commissioning and operation phases of offshore wind farms. It will be the sixth in a series of vessels built at Gondan coming on top of Edda Passat and Edda Mistral which were delivered by the same shipbuilder in 2018.

“The industry has experienced an increase in shipbuilding prices of about 20% in just a year. Therefore, we are satisfied having placed an order that represents a total ready for sea cost in the low EUR 60 million,” explained Kenneth Walland, chief executive of Edda Wind, whose customers include Ørsted, Vestas, Ocean Breeze, SSE and Siemens Gamesa.

The vessel will have the capability to accommodate up to 97 technicians and 23 marine crew onboard.

The equity part of the investment will come from the capital secured during Edda Wind’s initial public offering in late 2021.

The company’s CEO also said that Edda Wind has the ambition to further grow its fleet as the offshore wind market is expected to see "tremendous growth" over the next decades.

(EUR 1.0 = USD 1.031)

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