Norwegian shipowner OHT has fixed up post-delivery financing for its large new wind farm foundation installation ship under construction in China.
The Oslo-listed Arne Blystad-backed company has accepted a firm offer for a $135m secured green export credit agency credit facility for the 216-loa Alfa Lift.
The loan has a five-year term, with DNB Bank as bookrunner and coordinator, and, together with Sparebank 1 SR-Bank, the mandated lead arranger.
Norwegian export credit agencies Giek and Eksportkreditt are supporting the facility with a tranche of $82.6m.
Heavy-lift company OHT believes it has timed its move into offshore wind shipping perfectly.
A final investment decision has now been made by SSE Renewables and Equinor on the Dogger Bank A and B wind farms off the UK.
This means the 48,000-dwt Alfa Lift, due from China Merchants Industry Holdings (CMHI) in 2022, has finalised a contract to install 190 foundations for A and an unspecified number for B.
More newbuildings planned
OHT is also working to firm up a second new wind turbine installation vessel (WTIV).
A contract for the $230m WTIV Vind 1 was confirmed in November at CMHI for delivery in mid-2023.
Negotiations for a conditional shipbuilding contract for the next Vind ship are awaiting further clarity regarding client commitments, OHT said.
New wind farm tenders have moved into the clarifications and negotiations phase, the shipowner said.
OHT is in talks for contracts in Europe and the US from 2024 to 2028.
The company reported a net loss in the fourth quarter of $5.53m, against a loss of $3.44m in the same period of 2019.
Revenue dropped to $8.9m in the period, down from $12.1m.
