Kongsberg Gruppen ASA

07/07/2021 | Press release | Distributed by Public on 07/07/2021 00:00

KONGSBERG secures EUR 49m contract to deliver Wind Turbine Installation Vessel technology to COSCO

Kongsberg Maritime (KM) has signed contracts totalling EUR 49m with the Chinese shipbuilder COSCO Shipping (Qidong) Offshore for the delivery of its industry-leading Wind Turbine Installation Vessel (WTIV) technology. The agreement will see KM supply comprehensive technology packages for two new NG-20000X WTIVs, which COSCO is constructing for the Denmark-based service provider Cadeler. KM's Integrated Solution for Wind Turbine Installation Vessels will be crucial to the delivery and operation of the new vessels, which are destined to be among the largest of their type and capable of transporting and installing multiple sets of next- and future-generation wind turbines, and their foundations. This well-proven suite of solutions combines KM's optimized thruster package, electrical solution and dynamic positioning functionalities to maintain operability in all conditions, and includes multiple digital tools to improve sustainability and reliability. 'Cadeler is committed to providing safe, high quality and reliable offshore services, with a strong focus on safety and the environment,' says Mikkel Gleerup, CEO at Cadeler. 'KONGSBERG's innovative WTIV solution will help us to pursue new levels of efficiency and enable the world's transition to a future built on offshore renewable energies.' 'We take a genuine pride in bringing the benefits of our technological expertise to all maritime sectors,' adds Egil Haugsdal, President, Kongsberg Maritime, 'and the bespoke solution we have devised for wind turbine installation vessels indicates how much thought and effort we devote to facilitating and encouraging sustainable marine operations.' The first of the new WTIVs, which will service the European renewable energy market, is expected to be delivered before the end of Q3 2024. The second is expected by Q1 2025. For further information: Ronny Lie, Chief Communication Officer, 91 61 07 98 Jan Erik Hoff, Group Vice President Investor Relations, 99 11 19 16 KONGSBERG (OSE-ticker: KOG) is an international, leading global technology corporation delivering mission-critical systems and solutions with extreme performance for customers that operate under extremely challenging conditions. We work with nations, businesses and research environments to push the boundaries of technology development in industries such as space, offshore and energy, merchant marine, defence and aerospace, and more. KONGSBERG has about 11,000 employees located in more than 40 countries, creating a total revenue of NOK 25.6bn in 2020. Follow us on: kongsberg.com, Facebook, Twitter and LinkedIn