Wind Energy – Finance
Norwegian offshore wind services company Havfram has secured an additional $250m in equity funding through a partnership between its primary sponsor, Sandbrook Capital, and Canada’s PSP Investments.
The equity funding, in addition to credit financing from commercial banks and export credit agencies, will be used to build a fleet of state-of-the-art offshore wind vessels WTIV.
These vessels, capable of installing turbines reaching over 300m in tip height and foundations of up to 3,000 tonnes at water depths of up to 70m, are among the most critically scarce components of the global renewable energy supply chain.
Havfram also confirmed that its first vessel is now under construction, following execution of a shipbuilding contract with Yantai CIMC Raffles Offshore.
