Cadeler A/S is announcing the signing of firm contracts for the transportation and installation of 64 x 15 MW offshore wind turbine generators (WTGs) as well as the foundations for the East Anglia TWO Offshore Wind Farm, being developed by ScottishPower Renewables (a member of the Iberdrola Group) off the coast of the UK.
The aggregate value of these contracts to Cadeler is projected to fall within the range of EUR 360 – 382 million. The offshore works are set to commence in 2027 and will see the use of one of Cadeler’s newbuild A-class vessels.
In September 2024, the UK government announced the results of its latest auction for the award of contracts critical to the outbuild of new offshore wind farms. The awards included 960 MW capacity allocated to ScottishPower Renewables’ £4 billion East Anglia TWO Offshore Wind Farm. East Anglia TWO will be located in the southern region of the North Sea, off the East Coast of England, and is expected to feature 64 x 15 MW turbines, with the capacity to power the equivalent of almost one million homes each year.
Strong Position in the Foundations Space
Cadeler will be responsible for the transportation and installation of both the foundations and the WTGs for East Anglia TWO. The project will see the use of one of Cadeler’s A-class newbuild vessels, together with an O-class vessel from Cadeler’s existing fleet. This combination demonstrates Cadeler’s fleet flexibility and its ability to maximize efficiency and synergies across vessel classes.
Mikkel Gleerup, CEO of Cadeler, said: “This project underlines that our strategic decisions are in sync with our customers’ needs and the demands that we see in the market. With our six newbuilds on their way, Cadeler will deliver even greater flexibility and offer still improved efficiency for our clients, with solutions for even more complex projects. The East Anglia TWO project reinforces Cadeler’s strong position as a full-service T&I provider in the foundations space and our pivotal role in driving the transition to renewable offshore wind energy.”
Cadeler’s partnership with ScottishPower Renewables on East Anglia TWO, announced today, reflects the execution of firm contracts for a portion of the work contemplated by a reservation agreement Cadeler disclosed in May 2024.
Encouraging Auction Round
The offshore installation work for East Anglia TWO is set to commence in 2027 and, when finalized, the wind farm has the potential to make a substantial contribution to the UK government’s 2030 clean energy targets.
