Edda Wind ASA
Edda Wind ASA
07/28/2022 | Press release | Distributed by Public on 07/28/2022 01:34
Cancellation of newbuilding contracts with Colombo Dockyard PLC, Sri Lanka
Tid28.07.2022, 07:30:16
MeldingsID567591
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Cancellation of newbuilding contracts with Colombo Dockyard PLC, Sri Lanka
Edda Wind and Colombo Dockyard PLC, Sri Lanka, have today entered into an agreement whereby the contracts for the construction and delivery of two Commissioning Support Operation Vessels are cancelled.
Edda Wind has not paid any pre-delivery instalments to Colombo Dockyard PLC, and only incurred minor cost in relation to the project. Under the agreement Edda Wind will receive a compensation which will give a modest positive P&L effect. The terms and conditions of the cancellation agreements are to be kept confidential between the parties.
"The adverse development in Sri Lanka, which has become detrimental to its population, as well as to the business and financial sectors, has unfortunately led to a situation whereby Colombo Dockyard PLC are unable to fulfill the contracts and a cancellation agreement has been reached. However, Edda Wind's growth ambition remains unchanged, and we are evaluating alternatives for future fleet expansion.", says Kenneth Walland, CEO of Edda Wind ASA."
Read more a www.eddawind.com
For further queries, please contact:
Kenneth Walland, CEO Edda Wind
Phone: +47 916 93 418
E-mail: [email protected]
Tom Johan Austrheim, CFO Edda Wind
Phone: +47 982 09 873
E-mail: [email protected]
ABOUT EDDA WIND
Edda Wind is a leading pure play offshore wind service company headquartered in Haugesund, Norway. The Company develops, builds, owns and operates purpose-built Service Operation Vessels ("SOV") and Commissioning Service Operation Vessels ("CSOV") for offshore wind farms worldwide. Edda Wind is creating the next generation of offshore wind service vessels and works closely with partners to develop new technologies to reduce emissions without compromising operational capabilities or cost competitiveness. As of today, the Company owns and operates two purpose-built offshore wind SOVs, operates one chartered frontrunner, and has seven dedicated offshore wind vessels under construction - two offshore wind SOVs and five offshore wind CSOVs - with delivery from 2022. All newbuild vessels are prepared for zero-emission utilising liquid organic hydrogen carrier as an energy source.
This information is considered to include inside information pursuant to the Market Abuse Regulation article 17 and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Tom Johan Austrheim, CFO, Edda Wind ASA, on 28 July 2022 at 09:30 CET.
Edda Wind has not paid any pre-delivery instalments to Colombo Dockyard PLC, and only incurred minor cost in relation to the project. Under the agreement Edda Wind will receive a compensation which will give a modest positive P&L effect. The terms and conditions of the cancellation agreements are to be kept confidential between the parties.
"The adverse development in Sri Lanka, which has become detrimental to its population, as well as to the business and financial sectors, has unfortunately led to a situation whereby Colombo Dockyard PLC are unable to fulfill the contracts and a cancellation agreement has been reached. However, Edda Wind's growth ambition remains unchanged, and we are evaluating alternatives for future fleet expansion.", says Kenneth Walland, CEO of Edda Wind ASA."
Read more a www.eddawind.com
For further queries, please contact:
Kenneth Walland, CEO Edda Wind
Phone: +47 916 93 418
E-mail: [email protected]
Tom Johan Austrheim, CFO Edda Wind
Phone: +47 982 09 873
E-mail: [email protected]
ABOUT EDDA WIND
Edda Wind is a leading pure play offshore wind service company headquartered in Haugesund, Norway. The Company develops, builds, owns and operates purpose-built Service Operation Vessels ("SOV") and Commissioning Service Operation Vessels ("CSOV") for offshore wind farms worldwide. Edda Wind is creating the next generation of offshore wind service vessels and works closely with partners to develop new technologies to reduce emissions without compromising operational capabilities or cost competitiveness. As of today, the Company owns and operates two purpose-built offshore wind SOVs, operates one chartered frontrunner, and has seven dedicated offshore wind vessels under construction - two offshore wind SOVs and five offshore wind CSOVs - with delivery from 2022. All newbuild vessels are prepared for zero-emission utilising liquid organic hydrogen carrier as an energy source.
This information is considered to include inside information pursuant to the Market Abuse Regulation article 17 and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Tom Johan Austrheim, CFO, Edda Wind ASA, on 28 July 2022 at 09:30 CET.