J.P. Morgan and Havfram Announce Series of Next-Generation Wind Turbine Installation Vessels

Institutional investors advised by J.P. Morgan Global Alternatives, in cooperation with Havfram AS, have signed a letter of intent with China’s CIMC-Raffles to build a series of next-generation wind turbine installation vessels.

Illustration; Image: Havfram

These vessels will be offered for market entry in 2024. The first units will be built at CIMC-Raffle’s Yantai yard in China for delivery in 2024.

Source: Havfram

The partners plan to operate several vessels in the global offshore wind market with both traditional jack-ups for turbine installation, as well as a feeder solution for the US market in particular.

The wind turbine installation vessels (WTIVs) have been designed and created by an experienced offshore wind team focusing on installation efficiency in partnership with Gusto MSC as ship designer and in close collaboration with leading offshore wind developers and turbine suppliers, Havfram said.

The design includes green technologies and lessons learned from more than a decade of experience from WTIV operations and offshore wind construction.

J.P. Morgan’s Global Transportation group is an active developer, owner, and operator of a broad range of air, sea, and land-based transportation assets. With a fleet of over 100 vessels, the group is said to bring a deep knowledge base to bear in all shipping sectors.

The Stavanger-headquartered Havfram is an offshore marine construction company with offices in Oslo, Houston, Aberdeen, Perth, and Dubai and with close to 300 employees.

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