Clarksons Renewables : Offshore Wind Projects

Cadeler has signed an agreement with Orsted to transport and install turbine foundations at the UK’s Hornsea 3 offshore wind farm. The deal, subject to Orsted’s final investment decision, includes a further mutual commitment to developing the vessel hire agreement into a transportation and installation contract for the entire foundation scope.

For the installation of the foundations, Cadeler will use its F-class foundation vessel, which is now being built especially for this type of mission by Chinese COSCO Heavy Industries.


The 2.8 GW Hornsea 3 is situated in the North Sea, approximately 120 kilometres off the Norfolk coast and 160 kilometres off the Yorkshire coast. It was recently successful in the UK’s fourth contract for difference auction, securing a strike price of GBP 37.35 per MWh.

The installation of the farm’s more than 200 turbines is expected to start in the second quarter of 2026 with a suggested running time of Cadeler’s contract of two years.

Avangrid responds with legal action after it was sued for $110M |  newscentermaine.com

On the other hand Avangrid has received a contract for the operations and maintenance and asset management of Vineyard Wind 1.

The 800 MW wind farm is located approximately 24 kilometres off Martha’s Vineyard in Massachusetts and is the first commercial-scale offshore wind project in the US, currently under construction.

The farm is a 50-50 joint venture between Avangrid and Copenhagen Infrastructure Partners funds CI II and III and will feature 62 Haliade-X 13 MW turbines. It will deliver its first power to the grid in 2023 and have commercial operations in 2024.

In addition to Vineyard Wind 1, Avangrid owns 100% of the 804 MW Park City Wind off Connecticut, the 2.5 GW Kitty Hawk Wind off North Carolina, and the 1.2 GW Commonwealth Wind off Massachusetts.

Strong development for Hexicon in Italy - concession applications filed for several floating wind farms

While Hexicon has decided to increase its direct ownership in the MunmuBaram floating wind project off the southeast coast of South Korea to 20%. Hexicon owns 49% of the joint venture Hexicon Korea with Coens & Co, and the joint venture owns 20% of MunmuBaram Co., Ltd.

This means that Hexicon has just below ten per cent of direct ownership in the project before the transaction. Hexicon is now buying 20% of MunmuBaram Co., Ltd., with the other 80% owned by Shell Overseas Investments B.V.

The 1.3 GW wind project is located 65 – 80 kilometres from the city of Ulsan and will be developed in phases when the future investment decisions are made. The water depths in the area are between 120 and 160 metres, making the project well suitable for floating wind.

on the other hand Hexicon is operating in Italy through its joint venture, AvenHexicon Srl, with partner Avapa Energy Srl. AvenHexicon is currently in the process of developing five sites situated around the coasts of Sardinia, Sicily, and Puglia. Grid applications have been filed for all five sites, State Maritime Concession applications have been submitted, with the first for the area in the Strait of Sicily, a 1,200 MW offshore wind farm, having been published.

Hexicon wins UK’s first ever CfD auction for floating offshore wind

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