US-based Crowley and Denmark-headquartered Esvagt have signed additional joint venture agreements that will further strengthen their commitment to support purpose-built, Jones Act vessels to support US offshore wind production.
The new agreements, which follow the original agreement between the companies in 2021, will further support their joint efforts in service operation vessels (SOVs), with the latest additions focusing on the financial and development efficiencies in the vessel development process between the two companies.
The venture was initially created to develop a best-in-class design and deliver wind-dedicated, US-flag SOVs that are used during the operation and maintenance (O&M) phases of offshore wind farm projects, said the partners.
Crowley will own and operate the vessels while European SOV operator Esvagt will provide technical advice on the design, construction, and operation.
Both companies will share in the financials.
“The enhancement of this venture will help bring these important service operation vessels to the U.S. offshore wind market to meet the nation’s clean, sustainable energy demands. As we increase our organizations’ shared capabilities, we will help propel the continued growth of maritime and logistics solutions to help solve the nation’s vessel capacity demands in a responsible and sustainable way,” said Jeff Andreini , Vice President of Crowley Wind Services.
Last year, the US set the national target of 30 GW of installed capacity by 2030 to jumpstart offshore wind energy and create tens of thousands of jobs in the sector over the next decade.
“ESVAGT is proud to be an active player supporting our customers in the green transition. Crowley and ESVAGT share an ambition for a sustainable future, and we’re committed to take the lead in decarbonizing the maritime industry,” said Peter Lytzen , CEO of Esvagt.
“We’re delighted and proud to be a first mover of emission-free SOV’s and have ordered the world’s first e-Methanol driven SOV to be delivered in 2024″.
As a reminder, Esvagt and Ørsted decided to invest in what the companies describe as the world’s first SOV that can operate on green fuels.
When it comes to Crowley, the company decided to expand its capabilities across the clean energy sectors by announcing the company’s plans to develop and operate a wind services terminal in Salem, Massachusetts to serve the Commonwealth Wind offshore installation and other industry services.
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