Cadeler Completes First Monopile Foundation at Hornsea 3 Offshore Wind Farm
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 59 minutes ago
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Source: Newsfilter
- Project Milestone: Cadeler successfully installed the first fully commissioned monopile foundation at the UK's Hornsea 3 offshore wind farm, marking a significant advancement in one of the world's largest offshore wind developments, with Hornsea 3 expected to have a total capacity of 2.9 GW, capable of powering 3.3 million UK homes with renewable energy.
- Full T&I Scope: This installation represents Cadeler's first undertaking of the complete transportation and installation (T&I) scope for offshore monopile foundations, with plans to transport and install a total of 197 monopile foundations, showcasing the company's comprehensive capabilities and market expansion potential in the offshore wind sector.
- Collaboration and Execution: The successful installation of the first monopile foundation followed years of planning and coordination, involving close collaboration among multiple specialized teams, utilizing Cadeler's purpose-built A-class vessel, Wind Ally, for monopile installation, while Wind Orca executed the installation of secondary steel, ensuring efficient project execution.
- Future Development: Cadeler will deploy three of its own specialist offshore wind installation vessels, including its first A-class newbuilding, Wind Ally, further enhancing its capabilities in the transportation and installation of offshore wind infrastructure, supporting the company's ongoing expansion in the global market.
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About CDLR
Cadeler A/S is a Denmark-based company engaged in the engineering and construction industry, with a specialized focus on the offshore wind energy sector. The Company provides services for the transportation, installation, maintenance, and decommissioning of offshore wind turbine generators (WTGs), foundations, and platform topsides/substations. Cadeler A/S operates exclusively within the offshore wind industry and positions itself as a key enabler of the global energy transition toward renewable energy. The Company’s service portfolio includes offshore construction, heavy lift operations, project cargo handling, and accommodation services. Cadeler A/S also provides support for operations and maintenance activities, ensuring long-term performance and reliability of offshore wind assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Cadeler Completes First Monopile Foundation at Hornsea 3 Offshore Wind Farm
- Project Milestone: Cadeler successfully installed the first fully commissioned monopile foundation at the UK's Hornsea 3 offshore wind farm, marking a significant advancement in one of the world's largest offshore wind developments, with Hornsea 3 expected to have a total capacity of 2.9 GW, capable of powering 3.3 million UK homes with renewable energy.
- Full T&I Scope: This installation represents Cadeler's first undertaking of the complete transportation and installation (T&I) scope for offshore monopile foundations, with plans to transport and install a total of 197 monopile foundations, showcasing the company's comprehensive capabilities and market expansion potential in the offshore wind sector.
- Collaboration and Execution: The successful installation of the first monopile foundation followed years of planning and coordination, involving close collaboration among multiple specialized teams, utilizing Cadeler's purpose-built A-class vessel, Wind Ally, for monopile installation, while Wind Orca executed the installation of secondary steel, ensuring efficient project execution.
- Future Development: Cadeler will deploy three of its own specialist offshore wind installation vessels, including its first A-class newbuilding, Wind Ally, further enhancing its capabilities in the transportation and installation of offshore wind infrastructure, supporting the company's ongoing expansion in the global market.
See More
Cadeler Completes €175 Million Private Placement for Fleet Expansion
- Significant Financing: Cadeler announced the completion of a private placement raising approximately €175 million, priced above the company's 5-day VWAP, to fund two proposed T-class Wind Foundation Installation Vessels and a potential scour protection vessel acquisition, demonstrating the company's commitment to expansion in the wind energy market.
- Fleet Expansion Plans: The company plans to deliver two new T-class vessels in 2030 and 2031, with most capital commitments back-loaded after 2029 and total capex expected to be 65% debt financed, ensuring a clear path for future capital returns.
- Strong Market Demand: With renewed momentum in the global offshore wind industry, Cadeler anticipates good employment prospects for its expanded fleet, and no additional equity is expected to fund current plans, reflecting the company's robust capital allocation strategy.
- Enhanced Competitiveness: By evaluating the acquisition and conversion of a scour protection vessel, Cadeler aims to strengthen its foundation transportation and installation capabilities, reduce reliance on subcontractors, improve pricing competitiveness, and maximize retained profits, further solidifying its leadership position in the industry.
See More
Cadeler A/S Reports Strong FY 2024 Earnings
- Significant Revenue Growth: Cadeler A/S reported FY 2024 revenue of €620 million, a remarkable 149% increase year-over-year, indicating strong demand and a significant increase in market share within the offshore wind sector.
- EBITDA Surge: The company's EBITDA for 2024 reached €425 million, up from €126 million in 2023, reflecting improved operational efficiency and successful cost management strategies.
- Net Profit Increase: Cadeler's net profit soared to €280 million in 2024, compared to €65 million in the previous year, demonstrating enhanced profitability and improved financial health.
- Growing Order Backlog: As of now, Cadeler's order backlog stands at €2.8 billion, up from approximately €2.3 billion at the end of 2024, indicating a stable revenue stream and growth potential for the coming years.
See More
Cadeler Reports Strong 2025 Annual Results with Fleet Expansion
- Financial Performance Growth: Cadeler reported a revenue of EUR 620 million for 2025, an increase of EUR 371 million from EUR 249 million in 2024, reflecting strong operational performance driven by fleet expansion and high utilization, which enhances its competitive position in the offshore wind market.
- Significant EBITDA Improvement: The EBITDA for 2025 reached EUR 425 million, up from EUR 126 million in 2024, while net profit surged from EUR 65 million to EUR 280 million, indicating a substantial enhancement in profitability and further solidifying the company's financial foundation.
- Strong Order Backlog: As of March 24, 2026, Cadeler's order backlog stood at EUR 2.8 billion, up from EUR 2.3 billion at the end of 2024, demonstrating continued activity in the offshore wind installation and service markets, which enhances revenue visibility for the future.
- Strategic Investment and Expansion: In 2025, Cadeler expanded its fleet, doubling the number of wind installation vessels from five to ten, with all new vessels delivered on budget and on schedule, reflecting the company's long-term strategy and adaptability in offshore wind projects.
See More
Cadeler Signs O&M Contract for Taiwan Offshore Wind Farms
- New Contract Signing: Nexra confirms the signing of a 3-4 month Operations & Maintenance (O&M) contract with an undisclosed client for offshore wind farms in Taiwan, expected to be completed in 2026, further solidifying Cadeler's position in the Taiwanese market.
- Growing Wind Market Demand: As more 10-15 MW turbines come online globally, Nexra's O&M service platform is poised to meet the increasing demand for complex maintenance and major component exchanges, thereby enhancing Cadeler's long-term client relationships.
- Flexible Service Capability: Jacob Gregersen, Cadeler's Chief Growth Officer, states that with a versatile fleet operating globally, Nexra can quickly respond to client needs, ensuring safe and efficient execution of offshore wind farm operations across different jurisdictions.
- Market Share Enhancement: The O&M market accounted for one-fifth of Cadeler's revenue in 2025, and as offshore wind markets mature, Cadeler is well-positioned to provide reliable service support throughout the installation and operational lifecycle due to its modern fleet and strong presence in the Asia-Pacific region.
See More
Cadeler Signs O&M Contract in Taiwan
- Contract Signing: Nexra, a division of Cadeler, has signed a firm Operations & Maintenance (O&M) contract valued at over EUR 20 million with an undisclosed client, set to commence in March 2026 across two offshore wind farms in Taiwan, establishing a strong foothold in the growing offshore wind aftermarket.
- Project Execution: The O&M campaign will last for 3-4 months and will be executed by Cadeler's wind installation vessel, Wind Maker, showcasing Nexra's execution strength and flexibility in responding to client needs during the operational phase of offshore wind projects, thereby enhancing client trust.
- Growing Market Demand: O&M activities are projected to account for approximately one-fifth of Cadeler's total revenue by 2025, reflecting the increasing installed base of offshore wind turbines and the deployment of the latest generations of large turbines, indicating significant market potential and Cadeler's strategic focus.
- Expansion in Asia-Pacific: With this new campaign in Taiwan, Nexra continues to expand its footprint in the Asia-Pacific region, emphasizing Cadeler's commitment to long-term partnerships throughout the operational lifecycle of offshore wind farms, thereby strengthening its role in the global renewable energy transition.
See More
Cadeler Completes First Monopile Foundation at Hornsea 3 Offshore Wind Farm
- Project Milestone: Cadeler successfully installed the first fully commissioned monopile foundation at the UK's Hornsea 3 offshore wind farm, marking a significant advancement in one of the world's largest offshore wind developments, with Hornsea 3 expected to have a total capacity of 2.9 GW, capable of powering 3.3 million UK homes with renewable energy.
- Full T&I Scope: This installation represents Cadeler's first undertaking of the complete transportation and installation (T&I) scope for offshore monopile foundations, with plans to transport and install a total of 197 monopile foundations, showcasing the company's comprehensive capabilities and market expansion potential in the offshore wind sector.
- Collaboration and Execution: The successful installation of the first monopile foundation followed years of planning and coordination, involving close collaboration among multiple specialized teams, utilizing Cadeler's purpose-built A-class vessel, Wind Ally, for monopile installation, while Wind Orca executed the installation of secondary steel, ensuring efficient project execution.
- Future Development: Cadeler will deploy three of its own specialist offshore wind installation vessels, including its first A-class newbuilding, Wind Ally, further enhancing its capabilities in the transportation and installation of offshore wind infrastructure, supporting the company's ongoing expansion in the global market.
See More
Cadeler Completes €175 Million Private Placement for Fleet Expansion
- Significant Financing: Cadeler announced the completion of a private placement raising approximately €175 million, priced above the company's 5-day VWAP, to fund two proposed T-class Wind Foundation Installation Vessels and a potential scour protection vessel acquisition, demonstrating the company's commitment to expansion in the wind energy market.
- Fleet Expansion Plans: The company plans to deliver two new T-class vessels in 2030 and 2031, with most capital commitments back-loaded after 2029 and total capex expected to be 65% debt financed, ensuring a clear path for future capital returns.
- Strong Market Demand: With renewed momentum in the global offshore wind industry, Cadeler anticipates good employment prospects for its expanded fleet, and no additional equity is expected to fund current plans, reflecting the company's robust capital allocation strategy.
- Enhanced Competitiveness: By evaluating the acquisition and conversion of a scour protection vessel, Cadeler aims to strengthen its foundation transportation and installation capabilities, reduce reliance on subcontractors, improve pricing competitiveness, and maximize retained profits, further solidifying its leadership position in the industry.
See More
Cadeler A/S Reports Strong FY 2024 Earnings
- Significant Revenue Growth: Cadeler A/S reported FY 2024 revenue of €620 million, a remarkable 149% increase year-over-year, indicating strong demand and a significant increase in market share within the offshore wind sector.
- EBITDA Surge: The company's EBITDA for 2024 reached €425 million, up from €126 million in 2023, reflecting improved operational efficiency and successful cost management strategies.
- Net Profit Increase: Cadeler's net profit soared to €280 million in 2024, compared to €65 million in the previous year, demonstrating enhanced profitability and improved financial health.
- Growing Order Backlog: As of now, Cadeler's order backlog stands at €2.8 billion, up from approximately €2.3 billion at the end of 2024, indicating a stable revenue stream and growth potential for the coming years.
See More
Cadeler Reports Strong 2025 Annual Results with Fleet Expansion
- Financial Performance Growth: Cadeler reported a revenue of EUR 620 million for 2025, an increase of EUR 371 million from EUR 249 million in 2024, reflecting strong operational performance driven by fleet expansion and high utilization, which enhances its competitive position in the offshore wind market.
- Significant EBITDA Improvement: The EBITDA for 2025 reached EUR 425 million, up from EUR 126 million in 2024, while net profit surged from EUR 65 million to EUR 280 million, indicating a substantial enhancement in profitability and further solidifying the company's financial foundation.
- Strong Order Backlog: As of March 24, 2026, Cadeler's order backlog stood at EUR 2.8 billion, up from EUR 2.3 billion at the end of 2024, demonstrating continued activity in the offshore wind installation and service markets, which enhances revenue visibility for the future.
- Strategic Investment and Expansion: In 2025, Cadeler expanded its fleet, doubling the number of wind installation vessels from five to ten, with all new vessels delivered on budget and on schedule, reflecting the company's long-term strategy and adaptability in offshore wind projects.
See More
Cadeler Signs O&M Contract for Taiwan Offshore Wind Farms
- New Contract Signing: Nexra confirms the signing of a 3-4 month Operations & Maintenance (O&M) contract with an undisclosed client for offshore wind farms in Taiwan, expected to be completed in 2026, further solidifying Cadeler's position in the Taiwanese market.
- Growing Wind Market Demand: As more 10-15 MW turbines come online globally, Nexra's O&M service platform is poised to meet the increasing demand for complex maintenance and major component exchanges, thereby enhancing Cadeler's long-term client relationships.
- Flexible Service Capability: Jacob Gregersen, Cadeler's Chief Growth Officer, states that with a versatile fleet operating globally, Nexra can quickly respond to client needs, ensuring safe and efficient execution of offshore wind farm operations across different jurisdictions.
- Market Share Enhancement: The O&M market accounted for one-fifth of Cadeler's revenue in 2025, and as offshore wind markets mature, Cadeler is well-positioned to provide reliable service support throughout the installation and operational lifecycle due to its modern fleet and strong presence in the Asia-Pacific region.
See More
Cadeler Signs O&M Contract in Taiwan
- Contract Signing: Nexra, a division of Cadeler, has signed a firm Operations & Maintenance (O&M) contract valued at over EUR 20 million with an undisclosed client, set to commence in March 2026 across two offshore wind farms in Taiwan, establishing a strong foothold in the growing offshore wind aftermarket.
- Project Execution: The O&M campaign will last for 3-4 months and will be executed by Cadeler's wind installation vessel, Wind Maker, showcasing Nexra's execution strength and flexibility in responding to client needs during the operational phase of offshore wind projects, thereby enhancing client trust.
- Growing Market Demand: O&M activities are projected to account for approximately one-fifth of Cadeler's total revenue by 2025, reflecting the increasing installed base of offshore wind turbines and the deployment of the latest generations of large turbines, indicating significant market potential and Cadeler's strategic focus.
- Expansion in Asia-Pacific: With this new campaign in Taiwan, Nexra continues to expand its footprint in the Asia-Pacific region, emphasizing Cadeler's commitment to long-term partnerships throughout the operational lifecycle of offshore wind farms, thereby strengthening its role in the global renewable energy transition.
See More
