11/23/2021 | Press release | Distributed by Public on 11/23/2021 01:44
It was announced today that institutional investors advised by J.P. Morgan Global Alternatives, in cooperation with Havfram AS, have signed a letter of intent with CIMC-Raffles to build a series of next generation, state of the art wind turbine installation vessels ("WTIV"). These vessels will be offered for market entry in 2024.
The first vessels will be built at CIMC-Raffle's Yantai yard in China for delivery in 2024. The plan is for Havfram to operate several vessels in the global offshore wind market with both traditional jack-ups for turbine installation as well as a cost-effective feeder-solution for the US market in particular.
The WTIVs have been designed and created by an experienced offshore wind team focusing on installation efficiency in partnership with Gusto MSC as ship designer and in close collaboration with leading offshore wind developers and turbine suppliers.
The design includes green technologies and lessons learned from more than a decade of experience from WTIV operations and offshore wind construction.
Havfram is a reputed offshore marine construction company and is known for its subsea construction capabilities, completion track record, EPCI capability and seasoned project execution team. The company is headquartered in Stavanger, Norway, has a global footprint with offices in Oslo, Houston, Aberdeen, Perth and Dubai and have close to 300 employees.
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management.