Offshore wind fleet to double as IWS orders €295m CSOV quartet
Integrated Wind Solutions secures four firm Skywalker-class vessels at €65m each, lifting owned fleet to ten by 2030.
Oslo-based Integrated Wind Solutions (IWS) has announced a significant expansion of its offshore wind fleet with a €260 million ($295 million) order for four new Skywalker-class commissioning service operation vessels (CSOVs). The company’s subsidiary, IWS Fleet, has signed fixed-price turnkey contracts with China’s Nantong Rainbow Offshore & Engineering Equipment for the construction of the vessels.
The new CSOVs are scheduled for delivery between 2029 and 2030, with each vessel priced at approximately €65 million ($74 million). Once delivered, the quartet will increase IWS Fleet’s owned fleet from six to ten vessels. The company has also secured options for an additional four vessels at the same price, with potential delivery slots in 2030 and 2031, though these are subject to adjustments for foreign exchange fluctuations and supplier costs.
Advanced technology and strategic growth: Offshore
The newbuilds will maintain the proven Kongsberg Maritime-designed Skywalker platform, which has been well-received since its introduction in 2024. Each vessel will be equipped with 3D motion-compensated cranes and gangways supplied by MacGregor Norway, ensuring high performance in offshore wind operations.
Christopher Andersen Heidenreich, Managing Director of IWS Fleet and COO of Integrated Wind Solutions, highlighted the strategic importance of the expansion. “Building on the success of our Skywalker-class vessels, we are expanding a platform that has already earned strong customer trust,” he said.
“This move allows us to extend the reliability and efficiency IWS Fleet is known for to more projects, aligning our growth with the needs of our clients. We are confident in our partnership with Nantong Rainbow Offshore & Engineering Equipment to deliver these vessels on schedule and within budget.”
Financial planning and market outlook
IWS plans to finance the €260 million programme through a combination of operating cash flow and additional debt, without raising new equity. The company will adhere to standard industry payment terms, with half of the yard price due upon delivery of each vessel.
The financial backing for the expansion is further supported by Japan’s Sumitomo Corporation, which acquired a 25% stake in IWS Fleet in 2024 after investing €60 million ($67.9 million). This partnership underscores market confidence in IWS’s growth strategy.
The latest order follows the successful delivery of IWS’s first six Skywalker-class vessels, all built at China Merchants Industry Holdings. In June, the company bolstered its 2026 backlog by adding around 120 charter days and €6 million in contracts, bringing its contracted utilisation for the final three quarters of the year to 94%, including options.
With the offshore wind sector continuing to expand, the new CSOVs will play a key role in supporting installation and maintenance operations. If market conditions remain favourable, IWS may exercise its options for four additional vessels, further strengthening its position in the offshore wind service industry.
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