Fred. Olsen Windcarrier Brings in $151M in Offshore Wind Contracts


May 28, 2021
Bold Tern / Credit: David Meek/

Bold Tern / Credit: David Meek/

Offshore wind installation company Fred. Olsen Windcarrier (FOWIC) said Friday it had over the previous two months signed three new turbine transport and installation contracts with a combined value of up to 124 million euros ($151 million).

The contracts are linked to work in 2022-2024 in both Europe and the Asia Pacific, two will be executed with an upgraded vessel and combined the projects will cover up to 630 vessel days.

" All three contracts are repeat contracts building on existing client relationships and each represents unique challenges in terms of operating in demanding soil conditions or requiring local knowledge and experience," the company owning a fleet of jack-up installation vessels said Friday.  Fred. Olsen Windcarrier did not say who the clients were.

"Following these new contracts and previously announced temporary reallocation of a second vessel to Taiwan, FOWIC's backlog now stands at approximately 353 million euros [around $430 million] including options of which 80% is firm revenue.

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