Seajacks UK Ltd. – a wholly owned subsidiary of Eneti Inc. that provides installation and maintenance vessels to the offshore wind industry – has signed a vessel reservation agreement with an undisclosed client to transport and install turbines.
Mobilization is scheduled to begin in the first quarter of 2027. One of Eneti’s two NG16000X wind turbine installation vessels (WTIVs) currently under construction at Hanwha Ocean in South Korea will perform the work. Inclusive of mobilization and demobilization, the engagement is expected to take between 210 and 245 days and generate approximately $87 million to $100 million of gross revenue. Project costs are expected to be $15 million in aggregate.
“Through the ability to employ either of our two newbuilds, this project provides both maximum flexibility and accretive future cash flows,” says Emanuele Lauro, CEO, Eneti. “With net revenues approaching $350,000 per day, the contract reflects the improving fundamentals of offshore wind and current market conditions.”
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