Fred. Olsen Windcarrier

What Fred. Olsen Windcarrier does

Fred. Olsen Windcarrier is a Norwegian offshore wind turbine installation and operations & maintenance (O&M) services provider, established in 2008 as a subsidiary of Bonheur ASA (a publicly listed Norwegian conglomerate on the Oslo Stock Exchange) within the Fred. Olsen Group. The company operates a fleet of four purpose-built jack-up installation vessels—Brave Tern, Bold Tern, Blue Tern, and Blue Wind—designed for transporting, lifting, and installing offshore wind turbines and foundations across Europe, the United States, and the Asia-Pacific region. With a workforce of approximately 250 skilled personnel and 176+ years of cumulative offshore and marine experience drawn from the broader Fred. Olsen legacy, the company has installed more than 1,100 wind turbines totaling over 7,900 MW of green power capacity since inception.

The company's core technical capabilities center on four specialized vessels equipped with high-capacity crane systems, including 1,600-tonne Huisman LEC cranes on Brave Tern and Bold Tern capable of installing next-generation turbines up to 15 MW, and a DP2 dynamic positioning system on Blue Tern optimized for O&M and secondary steel works. Blue Wind, delivered in 2023, adds 5,000 m² of deck space and 10,000t of deck loading capacity, enabling simultaneous transport of components for multiple mega-turbines. All critical work processes are certified by DNV against ISO 9001, ISO 14001, ISO 45001, and the ISM Code, supporting the company's positioning as a safety-focused, technically credible installation partner.

Fred. Olsen Windcarrier generates revenue primarily through project-based transport and installation contracts with offshore wind developers (e.g., RWE for the Thor project, PGE Group for Baltica 2), supplemented by managed O&M service agreements including a 10-year Siemens Gamesa deal for turbines up to 15MW starting Q1 2028. The go-to-market motion is enterprise field sales, engaging directly with major developers, turbine OEMs, and utilities through dedicated project managers and industry events. Pricing is project-specific and quote-based rather than publicly disclosed. In February 2026, MEAG Munich Ergo AssetManagement invested NOK 150 million for approximately 24% ownership, providing financial flexibility for ongoing fleet investment and global expansion.

Name

Fred. Olsen Windcarrier

Legal name

Fred. Olsen Windcarrier

Website

https://windcarrier.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

101–250 employees

Short description

Fred. Olsen Windcarrier is a Norwegian offshore wind installation and O&M services provider operating a fleet of four jack-up vessels, serving developers and turbine OEMs across Europe, the US, and APAC.

Ownership category

akta.pro rank

Product category

Offshore Wind Installation Services

NAICS

Ship Building and Repairing (336611), Support Activities for Water Transportation (4883), Other Support Activities for Water Transportation (48839), Wind Electric Power Generation (221115)

SIC

Ship & Boat Building & Repairing (3730), Water Transportation (4400), Construction Machinery & Equip (3531)

akta.pro primary industry

Wind Turbine Installation & Commissioning (Cranes, Vessels, Jack-ups) (EUAMACAG)

akta.pro secondary industries

Marine & Offshore Wind BOP Construction (Foundations, Cables, Ports, Installation Support) (EUAMAFAI), Marine & Offshore Energy O&M (Offshore Wind, Platforms, Subsea Assets) (EUAEAGAO), Heavy Lifting & Material Handling Infrastructure (Goliath Cranes, Jib Cranes, Hoists) (IMAJALAD), Offshore Wind Power Generation (Fixed-Bottom) (EUACAFAB)

Keywords

• Offshore wind installation
• Jack-up vessel services
• Wind turbine installation
• Offshore operations maintenance
• Wind farm transport

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Offshore Wind Installation Services: Project-based transport and installation of offshore wind turbines and foundations using the company's jack-up vessels. Revenue is generated through long-term service contracts with offshore wind developers for specific installation projects.
2. Operations & Maintenance Services: 10-year service agreement with Siemens Gamesa for O&M of wind turbines up to 15MW capacity starting Q1 2028. Includes deployment of Bold Tern or Brave Tern vessels with optional extensions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Fred. Olsen Windcarrier provides transport, installation, and operations & maintenance (O&M) services for offshore wind farms using a fleet of four specialized self-elevating jack-up vessels (Brave Tern, Bold Tern, Blue Tern, and Blue Wind). The company delivers project-based marine installation campaigns for wind turbines and foundations, plus long-term vessel-based O&M support for major component exchange, blade repairs, and general wind turbine services, serving offshore wind developers, turbine manufacturers, and utilities globally.

Product overview

Fred. Olsen Windcarrier is a specialized offshore wind turbine installation and operations & maintenance service provider operating a fleet of four purpose-built jack-up installation vessels: Brave Tern, Bold Tern, Blue Tern, and Blue Wind. The company offers two primary service lines — Transport & Installation and Operations & Maintenance — executed through its versatile vessel fleet. Brave Tern and Bold Tern are large jack-up vessels with 1,600-tonne cranes capable of installing any turbine on the market; Blue Tern is a DP2 self-propelled jack-up optimized for O&M campaigns with an 800-tonne crane; Blue Wind is a newer vessel focused on foundation and turbine installation with massive deck loading capacity. The company was established in 2008, operates globally, and has installed over 1,100 offshore wind turbines totaling more than 7,900 MW of capacity.

Differentiator

Problem solved

Functional benefit

Products and services

• Transport & Installation Services Project-based transport and installation of offshore wind turbines and foundations using Fred. Olsen Windcarrier's fleet of jack-up vessels, leveraging 176+ years of offshore and marine experience and a track record of 1,100+ turbines installed globally for offshore wind developers and operators.
• Operations & Maintenance Services Vessel-based O&M services for offshore wind turbines up to 15MW including major component exchange, blade repairs, and general wind turbine services, delivered globally by experienced crews and supported by long-term service agreements with turbine manufacturers such as Siemens Gamesa (10-year agreement starting Q1 2028).
• Brave Tern Vessel (Jack-up Installation Vessel) A self-elevating and self-propelled jack-up offshore wind turbine installation vessel equipped with a 1,600-tonne Huisman LEC 1600 crane (upgraded in 2024) and 3,600 m² of open deck space, capable of transporting, lifting, and installing any turbine on today's market. Charterable to offshore wind developers for transport & installation and O&M campaigns.
• Bold Tern Vessel (Jack-up Installation Vessel) A jack-up installation vessel with a fully electric 1,600-tonne Huisman LEC 1600 crane, capable of installing foundations of up to 1,500 tonnes and handling all known next-generation turbines. Deployed for transport & installation campaigns and selected under the Siemens Gamesa 10-year O&M agreement.
• Blue Tern Vessel (DP2 Jack-up Vessel) A DP2 self-propelled jack-up vessel equipped with an 800-tonne Liebherr crane and accommodation for up to 144 persons, optimized for operations, maintenance, decommissioning, transition piece installation, and secondary steel works.
• Blue Wind Vessel (Jack-up Installation Vessel) A 142m self-elevating jack-up vessel with large loading capacity (5,000 m² deck space, 10,000t deck loading) enabling both foundation and turbine installation, capable of loading all components for seven 8 MW turbines or three 12 MW turbines at once. Delivered in 2023, deployed in APAC markets including Japan and Taiwan.

Quantifiable outcome

• 7,900 MW of green power capacity installed (1,100+ turbines)
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Siemens Gamesa Renewable EnergycoreStrategic or Co-development Partner · 1 March 2026Fred. Olsen Windcarrier signed a long-term 10-year service agreement with Siemens Gamesa for offshore wind operations and maintenance services for turbines up to 15MW, starting Q1 2028. The agreement includes deployment of either Bold Tern or Brave Tern vessel with optional extensions.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Cadeler: Cadeler is a pure-play Danish offshore wind turbine installation vessel (WTIV) operator with a fleet of newbuild and existing jack-up vessels. It is the closest direct competitor to Fred. Olsen Windcarrier, competing head-to-head on installation tenders for next-generation turbines and increasingly on O&M campaigns.
• Van Oord: Van Oord is a Dutch marine contractor with dedicated offshore wind installation vessels (e.g., Boreas, Aeolus) and full balance-of-plant capabilities. It directly competes with Fred. Olsen Windcarrier on European offshore wind installation tenders and O&M services.
• DEME Group: DEME is a Belgian marine contractor operating specialized offshore wind installation vessels (e.g., Innovation, Apollo) and is one of the largest balance-of-plant contractors in European offshore wind, directly competing with Fred. Olsen Windcarrier on major project tenders.
• Jan De Nul: Jan De Nul is a Belgian marine contractor with offshore wind installation capability through its Voltaire vessel and is active in both transport & installation and cable/balance-of-plant work. It competes directly with Fred. Olsen Windcarrier on European offshore wind installation contracts.
• Seaway 7: Seaway 7 is the dedicated offshore wind business of Subsea 7, operating heavy-lift and cable-lay vessels for offshore wind installation. It competes with Fred. Olsen Windcarrier on global offshore wind installation projects and serves similar developer customers.

Regional players

• Penta-Ocean Construction: Penta-Ocean is a Japanese marine contractor active in offshore wind installation in APAC, including Japan and Taiwan. It is a regional peer to Fred. Olsen Windcarrier in APAC installation markets but does not directly compete in the European installation segment.

Broad incumbents

• Boskalis: Boskalis is a large Dutch marine services and offshore contractor with broad offshore wind capabilities across transport, installation, and balance-of-plant. It is a broader incumbent rather than a pure-play WTIV operator and competes with Fred. Olsen Windcarrier for major project packages.
• Heerema Marine Contractors: Heerema is a Dutch heavy-lift marine contractor with large crane vessels historically focused on oil & gas but increasingly active in offshore wind installation. Its scale and lifting capacity overlap with Fred. Olsen Windcarrier's installation capability, though it operates across a broader offshore portfolio.
• Saipem: Saipem is an Italian offshore engineering and construction company with floating wind and fixed-bottom installation capabilities through vessels like the Saipem 7000. It competes in selected offshore wind tenders and represents a broader incumbent presence in marine installation.

Emerging players

• ZPMC: ZPMC is a Chinese heavy equipment and crane manufacturer that has expanded into offshore wind installation vessel operation. It represents an emerging low-cost entrant in the WTIV market that could increasingly compete with Fred. Olsen Windcarrier, particularly in APAC.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/FOWindcarrier

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fred. Olsen Windcarrier