Cadeler signs firm contract for the installation of 72 15MW wind turbines at Inch Cape Offshore Wind Farm using one of Cadeler’s state of the art newbuild M class wind turbine[...]

Cadeler signs firm contract for the installation of 72 15MW wind turbines at Inch Cape Offshore Wind Farm using one of Cadeler's state-of-the-art newbuild M-class wind turbine installation vessels

Issuer

Cadeler A/S

Copenhagen, 24 June 2024 - Today Cadeler A/S announces the signing of a firm
contract with Inch Cape Offshore Limited for the installation of 72 Vestas 15MW
offshore wind turbines at Inch Cape Offshore Wind Farm. The contract value is
projected to fall within the range of EUR 114 - 130 million, with installation
due to commence in the fourth quarter of 2026. This project illustrates
Cadeler's commitment to expanding its partner portfolio, while strengthening and
diversifying its contract backlog.

Located 15 kilometres off the East Coast of Scotland in the North Sea, Inch Cape
Offshore Wind Farm will generate enough energy to power the equivalent of
approximately 1.6 million UK households. For the successful execution of this
project, Cadeler will utilize one of its two state-of-the-art newbuild M-class
installation vessels. The overall duration of the project is estimated to be
around 249 days.

Mikkel Gleerup, CEO of Cadeler, said: "This contract once again illustrates the
increasing demand for our new build state-of-the-art vessels and our commitment
to expanding our partner portfolio, while strengthening our overall contract
backlog. With the recent renewal and continuing expansion of our fleet of
jack-up offshore wind installation vessels - the industry's largest - Cadeler is
ready to meet the fast-growing and dynamic market demand."

About Cadeler:
Cadeler is a global leader in offshore wind installation, operations, and
maintenance services. Cadeler is a pure play company, operating solely in the
offshore wind industry with an uncompromising focus on safety and the
environment. Cadeler owns and operates the industry's largest fleet of jack-up
offshore wind installation vessels and has for more than 10 years been a key
supplier in the development of offshore wind energy to power millions of
households. Cadeler's fleet, expertise and capacity to handle the largest and
most complex next-generation offshore wind installation projects positions the
company to deliver exceptional services to the industry. Cadeler is committed to
being at the forefront of sustainable wind farm installation and to enable the
global energy transition towards a future built on renewable energy. Cadeler is
listed on the New York Stock Exchange (ticker: CDLR) and the Oslo Stock Exchange
(ticker: CADLR). For more information, please visit www.cadeler.com

For further information, please contact:

Mikkel Gleerup
CEO, Cadeler
+45 3246 3102
[email protected]

Alexander Simmonds
EVP & CLO, Cadeler
+44 7376 174172
[email protected]

More information:
Access the news on Oslo Bors NewsWeb site

622182_PressRelease_Inch_Cape.pdf