IWS orders two additional Skywalker class CSOV newbuildings

Integrated Wind Solutions ASA (“IWS”) is pleased to announce that it has, through its fully owned subsidiary, IWS Fleet AS, entered into shipbuilding contracts for the construction of two Walk-to-Work Commissioning Service Operations Vessels (“CSOV”). The vessels are scheduled for delivery in H1 2024 from China Merchants Industry, Hong Kong. Currently IWS has two identical vessels on order for delivery in 2023 and option agreements for up to two additional vessels for potentially H2 2024 delivery.

The firm yard price for the two vessels is about EUR 48m per vessel. Approximately 50% of the vessel value is related to Norwegian export companies providing advanced technology ensuring safe and efficient operations during operations of the vessel.

After delivery, IWS will have a fleet of four identical Skywalker class vessels designed specifically to support commissioning works during the construction of wind farms, as well as supporting operations and maintenance during the lifetime of offshore wind farms, bottom fixed and floating.

“We are very pleased to expand our fleet by another two vessels which will be uniquely positioned for a strong and growing offshore wind market when delivered in 2024. We do see increased interest in our vessels and the integrated services that IWS provides, as demonstrated by the charter contracts with Dogger Bank Offshore Windfarm. This newbuilding order is a further step towards our ambition of providing efficient services to the offshore wind industry” says Lars-Henrik Røren, CEO of Integrated Wind Solutions ASA.

The first vessel of this class, IWS Skywalker, will directly after delivery commence its first out of two firm contracts at the Dogger Bank Wind Farm in summer 2023. Furthermore, IWS has been notified by Dogger Bank Wind Farm that they intend to sign a third charter contract for one of IWS’ Skywalker class vessels with commencement in 2025. Dogger Bank Wind Farm is owned by SSE, Equinor, and ENI.

These hybrid powered vessels will be among the first vessels in the industry capable of zero-emission operations. The vessels are designed by Kongsberg Maritime and equipped with the latest generation fully compensated gangway and 3d crane. The vessels have several “industry firsts”, such as the largest battery pack with solar panels for additional charging, hull and propulsion design increasing operability and reducing emissions, and an energy consumption estimated to be 20% lower than comparable CSOVs currently under construction. The vessels are also the first in the industry to have the “DNV SILENT” notation, which focuses on minimising the impact on marine life below water. The vessels’ advanced technology will reduce annual emissions by more than 1,300t CO2 equivalents per vessel.

About IWS Fleet AS:

IWS Fleet provides a fleet of state-of-the-art, purpose-built Walk-to-Work vessels providing services to the offshore wind industry across its entire life cycle, from installation and commissioning, operations, and maintenance to decommissioning. The Skywalker class can carry up to 120 personnel, has a fully integrated and compensated walk-to-work gangway and a 3D compensated crane which can lift cargo fully compensated from the vessel deck to a fixed or floating wind turbine or perform subsea operations for the balance of plant scope.

About Integrated Wind Solutions ASA:

Integrated Wind Solutions ASA offers a fleet of state-of-the-art service vessels to the offshore wind industry combined with a suite of adhering services to reduce levelized cost of energy (LCOE) for offshore wind. The Company has four UT5519DE Design Wind Farm Support Vessels under construction with delivery in 2023 and 2024, and options for up to two additional sister vessels. Furthermore, Integrated Wind Solutions owns the offshore wind supply-chain service company, IWS Services A/S and has a 30% ownership in the independent advisor, consultancy, data intelligence and wind farm operator firm PEAK-Wind Group, both with headquarters in Denmark. Integrated Wind Solutions are headquartered in Oslo, Norway. For more information, see the company website: www.iwsfleet.com

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