Havfram Wins Major Offshore Contract and Expands Green Loan Facility
Deal News | Jan 24, 2025 | Sandbrook Capital
Havfram, a prominent entity in offshore wind transport and installation, has secured a new contract to construct an offshore wind project in Europe, using its GustoMSC NG-20000X vessel, scheduled for delivery in late 2025. With this contract, Havfram now has agreements in place for turbine transport and installation for eight major projects between 2026 and 2030. Concurrently, Havfram has significantly increased its Green ECA Term Loan capacity. The loan, led by DNB Bank ASA and supported by a consortium of international financial institutions including KfW IPEX Bank, facilitates Havfram's strategic expansion in renewable energy projects. This financial move reflects the company's robust project pipeline and ambitious growth in the offshore wind sector.
Sectors
- Renewable Energy
- Financial Services
- Maritime Transport
Geography
- Norway – Havfram is based in Norway, and financial leader DNB Bank ASA is Norwegian.
- Europe – The offshore wind projects and the new contract are geographically anchored in Europe.
- Germany – The inclusion of KfW IPEX Bank, a German lender, in the financial syndicate expands the geographical reach.
Industry
- Renewable Energy – The article focuses on offshore wind projects, a key segment within renewable energy, where Havfram is a leading operator.
- Financial Services – The article discusses the expansion of Havfram's Green ECA Term Loan facility, involving multiple financial institutions.
- Maritime Transport – Havfram's involvement in offshore wind transport and installation highlights its role in the maritime industry.
Financials
- Not specified – Increase in credit capacity of Green ECA Term Loan facility; specific amounts not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Havfram | Target Company | Company | A leading company in offshore wind transport and installation. |
| Sandbrook Capital | Owner | Company | A private equity firm backing Havfram. |
| DNB Bank ASA | Lead Lender | Company | Leading the syndicate for Havfram's Green ECA Term Loan facility. |
| KfW IPEX Bank | Lender | Company | Recently joined the syndicate for Havfram's Green ECA Term Loan facility. |
| SpareBank 1 Sr Norge (SR Bank) | Lender | Company | Part of the syndicate providing the upsized loan facility. |
| Credit Agricole | Lender | Company | A global banking group involved in the loan syndicate. |
| Sparebanken Vest | Lender | Company | Nordic banking group involved in the Green ECA Term Loan. |
| Rabobank | Lender | Company | A Dutch multinational bank part of the syndicate. |
| Export Finance Norway | ECA Lender | Company | Provides export credit guarantees and financing to Norwegian businesses. |