Eneti Inc. (NYSE:NETI) (the “Company”) announced that it entered into a binding agreement for the construction of one Wind Turbine Installation Vessel (“WTIV” or the “Vessel”).
The Company has exercised an option it held with Daewoo Shipbuilding and Marine Engineering for the construction of one WTIV. The contract price is $326.0 million, and the Vessel will be delivered early in the second quarter of 2025.
The Vessel is an NG-16000X design by GustoMSC and includes a 2,600 Ton Leg Encircling Crane from Huisman Equipment B.V. of the Netherlands. The Vessel is capable of installing up to 20 Megawatt turbines at depths of up to 65 meters of water, and it can be adapted to operate on the alternate fuels of LNG or Ammonia.