Wind Energy – Termination
Danish offshore wind installation services firm Cadeler said earlier this week it had received notice of termination of the Aflandshage offshore wind project in Øresund, Denmark, which in turn led to the cancellation of its turbine installation contract.
“Cadeler regrets the cancellation of the project – however, the cancellation will not impact Cadeler’s long-term financial performance, but will have a positive impact on the guidance provided for the financial year 2023,” Cadeler said.
The contract awarded to Cadeler by Siemens Gamesa for the transportation and installation of 26 11MW wind turbines, set to begin in 2026, has been cancelled.
“As Cadeler has replacement projects lined up and in general operates with mutual termination fees when entering into contracts with partners, the decision will not change Cadeler’s long-term financial performance and will not have a material negative impact on Cadeler’s backlog, but it will impact the guidance provided for the financial year 2023 positively,” Cadeler said.