Ørsted forms long-term charter with Cadeler for a new wind turbine installation vessel, Quinnbrook Infrastructure Partners successfully closes of its $600 million Quinnbrook Valley of Fire Fund, and Canada Pension Plan Investment Board consolidates its offshore wind holdings into its dedicated global offshore wind platform, Reventus Power.
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Allen Hall: I'm Allen Hall, president of Weather Guard Lightning Tech, and I'm here with the founder and CEO of IntelStor, Phil Totaro, and the chief commercial officer of Weather Guard, Joel Saxum. And this is your News Flash. News Flash is brought to you by our friends at IntelStor. If you want market intelligence that generates revenue, then book a demonstration of IntelStor at IntelStor. com.
Offshore wind developer, Ørsted, has signed a long term charter with Cadeler for a new A class wind turbine installation in Vessel, the hybrid vessel can transport and install both turbine foundations and the turbines themselves and has a capacity for six double XL monopile foundations or seven complete 15 megawatt turbine setups per trip.
The partnership extends Ørsted and Cadeler's collaboration as the offshore wind industry scales up to meet ambitious targets. Now, Phil offshore developers and ship developers make a lot of sense here just because of the lack of ships and the, all the pressure to try to lock in ship time.
Philip Totaro: Yeah, absolutely.
And given some of the past experience Ørsted's had with lack of vessel availability, it was part of what they claimed was the rationale for pulling out of some of the projects in the U. S. as well. Was lack of vessel availability. So this gives them something dedicated and assumes that they're obviously also going to have a big pipeline of projects to be able to go justify, spending, I'm conservatively thinking about 225 million on an installation vessel of that size.
So, this is it's a great deal and it helps certainly provides certainty for Kettler as well who, Also, I just got through their merger last year with Anetti. So this, it's I think this is a great thing that that both companies are going to be able to benefit from.
And it certainly brings Ørsted some certainty on a vessel capable of deploying, what is currently the latest generation of Western developed technology.
Joel Saxum: So Cadeler has four existing vessels and six next gen new builds on order, right?
