Offshore staff
SKUDENESHAVN, Norway — Solstad Offshore subsidiary Solstad Shipholding has reached an agreement with Aker ASA, via the latter’s subsidiary Aker Capital, on a refinancing solution to secure the group’s future.
It involves refinancing of Solstad’s fleet loan, which is due to mature on March 31, 2024. Aker will contribute a minimum NOK2.25 billion ($200 million) in equity to a new entity, Solstad NewCo, and will underwrite an additional NOK0.75 billion ($67 million) to improve Solstad NewCo’s financial security.
In addition, there will be amendments to the terms of a residual claim relating to a former lease arrangement for the Normand Maximus vessel.
Solstad NewCo will serve as the parent company for the new structure and will initially be wholly owned by Solstad, with no other assets, rights and obligations than those acquired and assumed in connection with the refinancing.
The Windstaller Alliance between Aker Solutions, DeepOcean and Solstad for the offshore renewable energy sector will continue. The alliance combines the expertise of three offshore companies to deliver an integrated trio claim to have participated in more than 60% of floating wind projects in Europe to date.
In August 2023, the alliance executed a work scope for a floating offshore wind development in Spain that included pre-survey, towing, mooring and dynamic cable installation with connection of a floating turbine.
Solstad’s modern vessels and competence are both said to have been key to the project.
10.23.2023
