Cadeler inks firm turbine installation contract for 1.1-GW Inch Cape

Denmark-based offshore wind installation company Cadeler A/S (OSL:CADLR) has signed a firm deal with Inch Cape Offshore Ltd to install 72 Vestas 15-MW turbines at the Inch Cape Offshore Wind Farm off the Scottish coast.

Cadeler said today the contrat is expected to be worth between EUR 114 million (USD 122m) and EUR 130 million. Installation is slated to start in the fourth quarter of 2026 and to take around 249 days.

Inch Cape Offshore Wind Farm with a capacity of almost 1.1 GW will be built in the North Sea, 15 kilometres (9.3 miles) off the East Coast of Scotland. The project is owned by a joint venture between Edinburgh-based renewables investor Red Rock Power Ltd and Irish energy company ESB.

Cadeler will use one of its two newbuild M-class installation vessels for the project.

CEO Mikkel Gleerup commented that the contract illustrates the increasing demand for the company’s new build vessels. “With the recent renewal and continuing expansion of our fleet of jack-up offshore wind installation vessels - the industry’s largest - Cadeler is ready to meet the fast-growing and dynamic market demand,” the CEO stated.

The company has four vessels in operation and seven new builds underway.

(EUR 1 = USD 1.073)

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