Navigare Capital Invests in Offshore Wind Fleet

Danish maritime assets investor Navigare Capital has made its first investment in the offshore wind support vessel segment through a majority investment in its partnership with Norway’s Norwind Offshore.

Five purpose-built vessels, equipped with battery-hybrid propulsion and power management systems, will join the fleet during 2022-2025, Navigare Capital said.

Back in October, Norwind Offshore ordered two Commissioning Service Operations Vessels (CSOVs) at the Norwegian ship designer and shipbuilder Vard. Norwind Offshore is also converting one Platform Supply Vessel (PSV) to a Service Operation Vessel (SOV), also at Vard.

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The recently established ship-owning company returned to Vard for two additional CSOVs, with options for two more vessels, in April 2022.

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The new CSOVs are of VARD 4 19 design, developed by Vard Design in Ålesund in close cooperation with Norwind Offshore.

The CSOVs are scheduled for delivery in the first quarter of 2024 and the second quarter of 2025.

The SOV, the Norwind Breeze, has already secured a contract with ”one of the major operators within the offshore wind market,” according to Svein Leon Aure, CEO of Norwind Offshore, who added that the converted vessel will start her charter in May, directly from Vard Brattvaag in Norway.

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Photo: Navigare Capital