Norway. Awind 3 AS & Awind 6 AS (IWS)

The loan has been provided for Awind 3 AS and Awind 6 AS for the financing of two new Commissioning Service Operation Vessels (CSOVs). The loan is supported by the InvestEU programme under NIB’s Framework Operation Green Mobility and Transport.

The NIB loan will finance vessels that are built for purpose and will primarily be used for transporting and accommodating personnel and equipment when commissioning work is carried out at offshore wind farms. The vessels are part of a group of six new vessels that will be among the first hybrid-powered vessels in the industry.

The borrowers, Awind 3 AS and Awind 6 AS, are subsidiaries of IWS Fleet AS, a company owned by Integrated wind Solutions ASA (IWS). IWS is an offshore wind service company and is listed on the Oslo Stock Exchange. IWS Fleet AS will be operating the new vessels.

The project will benefit NIB’s member region, as the vessels will largely operate in the Baltic Sea and North Sea. In addition, during the construction phase, there will be deliveries of Nordic companies to the shipyards building the new vessels.

The offshore wind sector is critical for the generation of renewable energy, and thus the purpose-built vessels are an important part of the buildout of the offshore wind infrastructure. The engines are designed to be able to run on zero or low-carbon fuels and to be charged in the offshore wind fields when the fields start to operate. The vessels have the largest battery packs in the industry, with solar panels for additional charging. In addition, the vessels are built to reduce emissions and minimise the impact on the underwater marine life.

The project is eligible for and aligned to the “Installation, maintenance and repair of renewable energy technologies” EU Taxonomy activity.

Sustainability proofing has been carried out in accordance with the InvestEU Fund requirements, and a summary can be found here.