Ship management company

Navigare Capital invests in an offshore wind farm

Danish maritime asset investor Navigare Capital has made its first investment in the offshore wind support vessel segment with a majority investment in its partnership with Norwegian Norwind Offshore.

Five purpose-built vessels, equipped with battery-hybrid propulsion and energy management systems, will join the fleet between 2022 and 2025, Navigare Capital said.

In October, Norwind Offshore ordered two Commissioning Service Operations Vessels (CSOV) from Norwegian ship designer and builder Vard. Norwind Offshore is also converting a Platform Supply Vessel (PSV) to a Service Operation Vessel (SOV), also in Vard.

The recently created shipowner returned to Vard for two additional CSOVs, with options for two more vessels, in April 2022.

The new CSOVs are of VARD 4 19 design, developed by Vard Design in Ålesund in close collaboration with Norwind Offshore.

The delivery of the CSOVs is scheduled for the first quarter of 2024 and the second quarter of 2025.

The SOV, the North Wind Breezehas already obtained a contract with “one of the main operators in the offshore wind market”, according to Svein Leon AureCEO of Norwind Offshore, who added that the converted vessel will begin chartering in May, direct from Vard Brattvaag in Norway.

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