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A year of ‘new’ for the Renewables team


It’s no surprise that the Renewables sector is going from strength to strength – with ESG firmly on board room agendas, the demand for sustainable energy solutions and the attractive investment opportunities that the market brings, 2021 has enabled us to deliver bigger and better solutions to our growing client base. In partnership with our clients to achieve their objectives, the Renewables team is leading positive change to help progress this growth area with new innovations and an unprecedented level of new vessel supply for the offshore wind industry.  

The 2021 year, was the year of ‘new’:

New vessels

The Renewables team has managed new build transactions leading to a record high US$1.1bn in new Wind Turbine Installation Vessels (WTIV) and Construction Support Offshore Vessels (CSOV) assets, with an additional US$400m newbuilding contract pipeline (pending Final Investment Decision).

New capacity

For the three Wind Turbine Installation Vessels on firm order, it translates to a new installation capacity of up to 900 next generation Wind Turbine Generators (WTG) per year. The fleet of CSOV under construction will provide up to 400 offshore technicians new state-of-the-art offshore accommodation, with safe transfer to WTGs.

New charters

Our global teams brokered:

  • 50 years cumulative Support Offshore Vessels Operations and Maintenance time charter contracts.
  • Nearly eight years cumulative Walk-2-Work CSOV time charterers for the Construction and Commissioning sectors.

New M&A business

The team assisted in four offshore wind IPOs and corporate M&A processes.

New power

As a team we engaged in a wide range of power cable lay projects around the globe, from the North Sea to Taiwan.

New technology

Floating offshore wind, based on floating structures rather than fixed structures, is one of the latest innovations in the sector. It brings opportunity to scale the deployment of wind turbines in larger and deeper offshore areas with higher wind potential. We are proud to have assisted across multiple floating offshore wind projects globally.

The pandemic has had a major impact on vessel availability and rates - the entire supply chain has been affected both logistically and financially. We look forward to 2022 with plenty of optimism and would like to extend our thanks to the team and external partners we have had the pleasure of working with to make 2021 a successful year. To continue to enable the renewable energy market to thrive, we are working closely with our clients to understand when rates will start to cool, when availability of vessels may start to increase and the kinds of strategies that can be deployed to de-risk and prepare for the future.


Be sure to reach out to the Renewables team for insight and planning assistance.