The T&I operations are set to commence in March 2028 and will last approximately 150 days. The revenue from this contract to Cadeler is projected to be between €70 and 80 million.
The announcement reflects the execution of a firm contract for a portion of the work contemplated by the reservation agreement Cadeler disclosed in September 2024, which secured two offshore wind projects in the region. Negotiations are ongoing with respect to the second of such offshore wind projects.
Cadeler’s partnership with SRE on these projects represents a further step forward in Cadeler’s long-term strategy to advance offshore wind in the Asia-Pacific, supported by the company’s local office in Taipei.
Located 18 to 20 kilometers off the coast of Miaoli County, Formosa 4 will span an area of 58 square kilometers, with turbines installed at water depths between 57 and 64 meters. Upon completion, the wind farm will provide 495 MW of clean offshore energy, contributing significantly to Taiwan’s green energy supply.
Mikkel Gleerup, CEO of Cadeler, comments, "This milestone project further anchors Cadeler’s strategic presence in the Asia-Pacific region. With the support of our team based in Taipei, we are steadily building up our APAC presence and pipeline, with two vessels currently operating contracts in the region.
"With an M-class vessel, we are bringing best-in-class technology to Taiwan’s shores, building a bridge between continents and the infrastructure for a cleaner tomorrow.”
