Edda Wind Concludes Edda Passat SOV Offloading Process

Edda Wind, a company exclusively focused on offshore wind services and listed on the Oslo stock exchange, has successfully offloaded its service operation vessel (SOV), Edda Passat, to an undisclosed buyer.

Edda Wind orchestrated the transaction via its subsidiary, West Energy. They utilized a sale and purchase agreement that pertained to the transfer of all remaining shares in Puerto de Calella S.L., the official owner of the vessel.

The firm has declared that the transaction is scheduled to take place in the middle of March 2024. The money obtained from the sale will be used for diverse corporate purposes, including settling the existing debt connected to the SOV.

Edda Wind explained that the sale of the vessel was part of its efforts to optimize fleet strategy, which involves aligning vessel design.

The company headquartered in Haugesund, with backing from Wilhelmsen, Østensjø, John Fredriksen, and Idan Ofer, is presently in the process of building eight dedicated offshore wind vessels. These comprise one SOV and seven CSOVs. All these newly constructed vessels are equipped for zero-emission operations, utilizing either liquid organic hydrogen carriers or methanol as their energy source.

The most recent agreement secured by Edda Wind for the vessel involves a charter deal with Vestas, a prominent turbine manufacturer. This successful deal guarantees the vessel's utilization for the majority of the fourth quarter of 2023, along with additional options.