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Wilhelmsen makes further inroads into wind market in deal with Ostensjo

Photo: Wilhelmsen Edda signing.jpg
Johannes Ostensjo (left), owner of the Ostensjo Group and Thomas Wilhelmsen, ceo of Wilhelmsen
Norway’s Wilhelmsen has penned an agreement to acquire 25% of compatriot Ostensjo Group’s offshore wind company as part of Wilhelmsen’s strategic venture into the renewable energy market.

Ostensjo’s offshore wind firm Edda Wind, launched in 2018, owns and operates vessels supporting the maintenance work conducted during the commissioning and operation of offshore wind farms.

In addition to the initial 25% stake investment, Wilhelmsen has secured an option to buy a further 25% stake in Edda Wind before June 2021. Financial details of the deal were not disclosed.

“The Wilhelmsen group’s strategy is very clear, to further expand into renewables, by working together with partners, and leveraging our expertise and assets,” Wilhelmsen’s ceo Thomas Wilhelmsen said, adding that Edda Wind is expanding its fleet with future-focused emission free vessel technologies.

“With our unrivalled global network, decades of in-depth logistical and operational expertise, and experience in the renewable space, through our NorSea and Elevon interests, Wilhelmsen is uniquely equipped to help unlock Edda Wind’s enormous potential. We also know a thing or two about hydrogen as a marine fuel, which might come in handy for the future vessels,” he said.

Edda Wind currently has two vessels in service, and four cutting edge, low-emission service vessels on order with yards. Long-term charter agreements are in place for two of the newbuilds ahead of their expected delivery in 2022. Ostensjo will continue to manage the Edda Wind fleet.

Wilhelmsen and Edda Wind aim to target growth regions such as the US East Coast and Asia.

“Having two strong owners like Ostensjo and Wilhelmsen will be a huge advantage for Edda Wind, taking into account the growth that is expected in the offshore renewable market over the next years,” said Kenneth Walland, ceo of Edda Wind and Ostensjo.

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