.jpg)
ZITON
has recently taken delivery of the jack-up vessel WIND ENERGY. The vessel
was renamed following its registration into the Danish International Register
of Shipping. Taking delivery of the vessel marks a significant milestone
in Ziton's efforts to upgrade and prepare the vessel for its upcoming time
charter. As previously communicated in a stock exchange announcement on
April 28, 2023, the vessel is expected to commence a six-year time charter
with Siemens Gamesa in early 2024.
In the coming weeks, the vessel will undergo a dock stay in China to remove
the existing living quarters and undergo extensive upgrades. Subsequently,
the vesse
">
The project is progressing according to schedule, and we are strongly committed
to meeting all project milestones to ensure timely delivery. We are diligently
monitoring and managing costs, which are currently in line with our expectations.
Furthermore, as communicated in a stock exchange announcement on May 26,
2023, ZITON has successfully raised EUR 296 million in financing to refinance
existing debt and acquire and upgrade the WIND ENERGY. A significant portion
of the financing, amounting to DKK 745 million (approximately EUR 100 million),
has been secured as an ESG-linked loan from Core Sustainability Capital,
a Danish private capital investment fund focused on sustainable impact.
This partnership entails ZITON and Core Sustainability Capital setting
ambitious targets for improving Environmental, Social, and Governance (ESG)
factors. The margin on the ESG-linked loan will be adjusted based on ZITON’s
performance in specific ESG metrics. This includes allocating capital to
reduce the company’s carbon footprint in both vessel operations and overall
business practices, as well as maintaining exemplary health and safety
standards.
Thorsten Jalk, CEO of ZITON A/S is pleased with the partnership, explaining
that “ZITON is the clear market leader within offshore wind major component
replacements. We offer customers a fleet with one of the industry’s lowest
carbon footprints, and we have ambitions to improve even further. The partnership
with Core Sustainability Capital will help us focus capital allocation
to our ESG initiatives to become climate neutral by 2045.”
Carsten Gröhn, Managing Partner at Core Sustainability Capital elaborates
“We are delighted to form a partnership with ZITON, who plays a crucial
role in maintaining the efficiency and reliability of Europe’s renewable
energy grid. Core Sustainability Capital is proud to support ZITON in expanding
its capacity to create a positive impact in this vital sector through the
acquisition of WIND ENERGY. ZITON’s proactive commitment to securing financing
that aligns the margin with ambitious sustainability actions and targets
is a clear testament to their unwavering dedication and active contribution
towards shaping a sustainable future.”
WIND
ENERY has a long history in offshore wind. Originally the vessel was
known as Friedrich Ernestine and was owned by RWE in 2011. In 2014, the
vessel was acquired by Shanghai
Zhenhua Shipping Co. Ltd. and worked in the Chinese offshore wind sector.
For more intelligence on component trends
for turbines, installation vessels, specifications and supply & demand
analysis, click
here.
