Edda Wind Secures Financing for 90 Pct of Its Fleet

Offshore wind service vessel company Edda Wind has entered into a green loan facility agreement for the pre- and post-delivery of three commissioning service operation vessels (CSOVs) under construction at Gondan shipyard in Spain.

The facility agreed with Crédit Agricole Corporate and Investment Bank, Eksportfinansiering Norge and Sparebanken Vest, is for a minimum of EUR 100 million and a maximum of EUR 120 million.

The agreement has a term of six years from delivery and a blended profile of 12 and 15 years.

Following this agreement, the Norway-headquartered company has nine of the ten vessels in its fleet under long-term financing.

In May 2021, Edda Wind took delivery of its first CSOV, the hydrogen-ready Edda Breeze, which is chartered by Ocean Breeze to provide services for the BARD Offshore 1 wind farm in Germany.

A year later, the company ordered another CSOV from Gondan Shipbuilders which was the sixth vessel in the series built at Astilleros Gondan shipyard.

Last week, Edda Wind took delivery of the 88.3-metre-long Edda Boreas which will commence work at Dogger Bank wind farms UK in May for a minimum of two years.

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