NIB finances vessels for construction of offshore wind farms

The Nordic Investment Bank (NIB) has provided a EUR 50 million 12-year loan to Awind 3 AS and Awind 6 AS, subsidiaries of IWS Fleet ASA owned by Integrated Wind Solutions (IWS), to finance new commissioning service operation vessels (CSOVs). This loan is supported by the InvestEU programme under NIB’s Framework Operation Clean Energy Transition.

The loan will finance two new CSOVs that are essential for the construction and commissioning of offshore wind farms. The new vessels will enable IWS to expand its fleet and enhance its capabilities in supporting the growing demand for renewable energy infrastructure in the Nordic region and beyond.

The new vessels are part of a series of six state-of-the-art vessels ordered by the customer. They are designed to run on low carbon fuels and feature the largest battery packs in the industry, complemented by solar panels for additional charging. Equipped with advanced features like dynamic positioning systems and motion-compensated gangways, these vessels ensure safe and efficient transfer of personnel and equipment to offshore wind turbines, even in challenging sea conditions.

Moreover, the vessels are built to be fuel-efficient and minimise noise impact on underwater marine life.

“By supporting Integrated Wind Solutions, we are enhancing offshore wind power infrastructure with an innovative fleet of commissioning service operation vessels. This loan underlines our commitment to advancing renewable energy and supporting economic growth in the Nordic-Baltic region,” says André Küüsvek, President and CEO of the Nordic Investment Bank.

“We greatly appreciate Nordic Investment Bank’s support. This loan will strengthen our initiatives to advance offshore wind power infrastructure and play a key role in driving the renewable energy shift,” says Marius Magelie, Group CFO at Integrated Wind Solutions ASA.

IWS is an offshore wind service company listed on the Oslo Stock Exchange. IWS Fleet AS will operate the new vessels.

InvestEU support has been instrumental in unlocking NIB’s financing of the operation which is critical for accelerating the offshore wind energy generation capacity build-out in the region.

The InvestEU programme provides the European Union, as well as Norway and Iceland, with crucial long-term funding by leveraging substantial private and public funds in support of policy priorities like the green and digital transitions. You can read more at NIB and InvestEU.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s. Read more at www.nib.int

For further information, please contact
Mikael Ahlers, Senior Banker, at +358 10 618 0386, Mikael.Ahlers@nib.int

Iiris Anttalainen, Communications, at +358 10 618 0258, Iiris.Anttalainen@nib.int