Danish offshore wind specialist Cadeler A/S has launched a significant fleet expansion to meet the rapidly growing global demand for offshore wind installation capacity—especially for the largest turbines, which require specialized vessels and equipment.
With support from EIFO, Cadeler is investing in two state-of-the-art vessels constructed in South Korea. The vessel “Wind Maker” was delivered in January 2025 and the vessel “Wind Mover” is expected to be delivered in Q4 2025. The new ships are designed to operate on green fuel and can handle the largest offshore wind turbines on the market.
FACTS
- Company: Cadeler A/S
- Purpose: Acquisition of two advanced offshore wind installation vessels
- Ships: Wind Maker and Wind Mover – both high-tech jack-up vessels
- Construction site: South Korea
- Delivery: First vessel in 2025
- Financing: Buyer credit guarantee from EIFO of DKK 1.04 billion
- Partners: KEXIM (South Korea), Eksfin (Norway), international bank consortium
- Vision: Green transition, job creation in Denmark, and a strengthened market position for Cadeler
Cadeler is already a key player in the global offshore wind build-out and is headquartered in Denmark with offices in both Copenhagen and Vejle. The fleet expansion will significantly increase the company’s capacity, strengthening both export potential and job creation in Denmark.
The financing has been arranged in collaboration with the Norwegian and South Korean export credit agencies, Eksfin and KEXIM, as well as an international consortium of banks. EIFO’s contribution is critical to realizing this capital-intensive investment and ensuring that Cadeler maintains its position as one of the global leaders.
EIFO's financing solution
- Type: Buyer credit guarantee
- Amount: DKK 1.04 billion
- Purpose: Co-financing of two new offshore wind installation vessels