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WILHELMSEN BUYS INTO EDDA WIND

Thursday, September 17, 2020 

Wilhelmsen and Østensjø are to join forces to fast track growth of Østensjø Group’s expanding offshore wind company Edda Wind, under a new agreement between the two companies that sees Wilhelmsen initially acquiring 25% of Edda Wind, with an option to buy another 25% before June 2021.

Launched in 2018, Edda Wind owns and operates service vessels supporting the maintenance work conducted during the commissioning and operation of offshore wind parks.

Wiulhelmsen Group CEO Thomas Wilhelmsen said: “The Wilhelmsen group’s strategy is very clear, to further expand into renewables, by working together with partners, and leveraging our expertise and assets. So, finding an opportunity like this to work with Østensjø and invest in Edda Wind, a growing company, rapidly expanding its fleet with future-focused emission free vessel technologies is ideal. With our unrivalled global network, decades of in-depth logistical and operational expertise, and experience in the renewable space, through our NorSea and Elevon interests, Wilhelmsen is uniquely equipped to help unlock Edda Wind’s enormous potential. We also know a thing or two about hydrogen as a marine fuel, which might come in handy for the future vessels.”

Johannes Østensjø, owner of the Østensjø Group. said: “We are very pleased with having Wilhelmsen as our partner in Edda Wind. During Østensjø’s 50-year long history of advanced offshore operations, we have gained experience and knowledge that has enabled us to become a significant supplier of service operation vessels within offshore wind. Wilhelmsen’s strong brand, competence, and global position, combined with both companies’ ambition to develop new green solutions, will further strengthen Edda Wind’s position to become a world-leading provider of offshore wind services. We have learned to know Wilhelmsen as a solid and knowledgeable company that stands for many of the same values as Østensjø Rederi, which makes me confident that this partnership will be both long-lasting and successful.”

Edda Wind currently has two vessels in service, and four new low-emission service vessels on order. Long-term charter agreements are in place for two of the newbuilds ahead of their expected delivery in 2022. Østensjø Rederi will continue to manage the Edda Wind fleet.

“Having two strong owners like Østensjø and Wilhelmsen will be a huge advantage for Edda Wind, taking into account the growth that is expected in the offshore renewable market over the next years. We look forward to take advantage of the synergies between the two owners and are excited about further expanding our business with Wilhelmsen onboard,” said Kenneth Walland, CEO of Edda Wind and Østensjø Rederi.

Edda Wind’s new vessels, designed by Salt Ship Design, Norway, are purpose built for the demands of the offshore wind industry. Part floating accommodation block, part supply ship, they will accommodate up to 97 technicians at a time, and 23 marine crew. Anti-heeling and roll reduction systems will provide a stable working platform, and a motion compensated gangway system with adjustable pedestal will ensure safe and efficient connection to the turbines even in poor weather. Emission reduction technology will cut  emissions by a minimum of 30%, with provision for future fitment of zero emission hydrogen technology. These future-fuel ready design elements include tank systems for hydrogen storage, dedicated machinery space for fuel cells, a hybrid battery system, novel type propulsors and a range of energy saving measures for the HVAC and pump systems.

The first two vessels are expected to be delivered in the first quarter of 2020 with both on long-term time charters with MHI Vestas, and Ocean Breeze Energy, for 15 and 11 years, respectively.

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