Wilhelmsen and Østensjø each own 50% of Edda Wind. Anticipating long-term growth for the renewable energy sector, the company has placed an order for two additional Commissioning Service Operation Vessels (CSOV), bringing its fleet up to eight.
Launched in 2018, Edda Wind owns and operates service vessels supporting the maintenance work conducted during the commissioning and operation of offshore wind parks.
“The Wilhelmsen group’s strategy is very clear, to further expand into renewables, by working together with partners, and leveraging our expertise and assets. So, finding an opportunity like this to work with Østensjø and invest in Edda Wind, a growing company, rapidly expanding its fleet with future-focused emission free vessel technologies is ideal,” says Thomas Wilhelmsen, CEO of the Wilhelmsen group.
Reflecting the rapid development of the offshore wind market, Edda Wind currently has two vessels in service, and already has four cutting edge, low-emission service vessels on order with yards, with delivery expected 2022. With additional investment required to further capitalize on market potential, the two owners have also agreed to seek an initial public offering on Euronext Growth Oslo (formerly Merkur Market).
“Our clear ambition is to be a player in renewable energy and decarbonisation,” says Thomas Wilhelmsen. “Edda Wind is a growing company, rapidly expanding its fleet with future-focused, emission free vessel technologies, with competencies and a culture which perfectly complements our own, upping our stake in the company was not a difficult decision.”
“However, the tremendous growth expected in the offshore wind market over the decades to come and our ambitions to be an integral part of that journey will require significant investments. To be able to capitalise on the market opportunities ahead, we have together with Østensjø decided to prepare for an initial public offering of Edda Wind,” says Wilhelmsen.
Edda Wind’s CSOV vessels are specially designed for service operations during the commissioning and operation of offshore wind farms and are constructed to be able to accommodate the future zero-emission technology. Four of the vessels are on long term charter agreements with key clients like Ørsted, Vestas and Ocean Breeze.