Hochtief intensifies offshore activities

<b>Hochtief has given the order for the jack-up vessel Vidar to the Polish shipyard Crist in Gdynia.</b><br><i>Photo: Hochtief</i><br><br>
Hochtief has given the order for the jack-up vessel Vidar to the Polish shipyard Crist in Gdynia.
Photo: Hochtief

The two partners each hold 50 % of the new Hochtief Offshore Development Solutions S.à.r.l.. Permits for wind farms are to be acquired by the new company and the plans developed. After the increase in value thus created, but before the wind farms are built, these projects will then be sold. The company does not wish to operate wind farms itself.

Additionally, Hochtief has ordered a further jack-up crane vessel from the Polish shipbuilder Crist. The ship, carrying the name “Vidar”, is to go into operation in 2013. Along with its sister ships and jack-up vessels Odin, Thorn and Innovation, it will be the fourth large ship belonging to Hochtief. It will be used for the company’s own construction work, as well as hired out to others.

Vidar will be fitted with a 1,200 tonne crane and have a carrying capacity of 6,500 tonnes. It will be used in waters up to 50 m deep and will have a speed of up to 12 knots. The financing is via an operate-lease agreement with a subsidiary of Santander as the leasing company and with the further involvement of the KfW IPEX bank, the Norddeutschen Landesbank, the Spanish CaixaBank and the Lampe Bank.

Vidar, like the other large vessels in the fleet, will be built by the Polish Crist shipyard in
Gdynia. Hochtief has a parallel order with them for the construction of three large pontoons. Additionally, the fitting out of the somewhat larger sister ship Innovation is currently underway at Crist. According to company statements there are already numerous enquiries projects planned in for Vidar.

Hochtief is carrying out construction and logistics services for several German wind farms. The company also has many years of experience in port construction, maritime foundation work and offshore logistics.
Ventizz Capital Partners is a private equity investor for growing technology-based companies. Since being set up in the year 2000, it has made 41 investments and initiated or consulted on four funds with a total capital of € 675 million. Ventizz entered the offshore wind power field in November 2011 when it bought the North Sea wind farm Nautilus II.

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