Germany

Germany

Hochtief Offshore acquires jack-up vessel

GERMANY: Hochtief Offshore Development Solutions has commissioned the construction of a fourth heavy-lift jack-up vessel for the installation of offshore wind farms.

The vessel, named Vidar, is being built in the Polish Crist shipyard in Gdansk, where its larger sister ship Innovation is currently being fitted out prior to assignment to the Global Tech I wind farm. It will start operating in 2013, and be used for both the company’s own offshore construction contracts and for external contract work.

Vidar’s main features will be a 1,200 tonne crane and a loading capacity of 6,500 tonnes. It will have a top speed of 12 knots and will be able to operate in water depths of up to 50-metres.

The new vessel has been financed by a group of backers including Santander Bank and KfW IPEX Bank,  the latter being one of the world’s largest ship financiers.

Hochtief Offshore is a joint venture between construction company Hochtief and venture capitalist Ventizz Capital. The JV has JV ownership of five North Sea wind projects, which it is developing with a view to selling on for construction.

Hochtief Offshore also operates two further jack-up platforms, Odin and Thor.

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