Fred. Olsen Windcarrier (FOWIC), a company that specializes in the transport and installation of offshore wind turbines, has signed three new turbine transport and installation (T&I) contracts with a combined value of up to $150 million.
The contracts are linked to work in 2022-2024 in both Europe and APAC. Two of the contracts will be executed with an upgraded vessel and will cover up to 630 vessel days. All three contracts are repeat contracts building on existing client relationships; each represents different operating challenges.
Following these new contracts and previously announced temporary reallocation of a second vessel to Taiwan, FOWIC’s backlog now stands at approximately $430 million including options of which 80% is firm revenue.
To learn more about FOWIC’s turbine transport fleet, click here.