Eneti Inc. Announces a Contract for the Construction of its Second Next-Generation Offshore Wind Turbine Installation Vessel

Monaco - Dec. 02, 2021

Eneti Inc. (NYSE:NETI) (the “Company”) announced today 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.

About Eneti Inc.
Eneti Inc. is focused on the offshore wind and marine-based renewable energy industry and has invested in the next generation of wind turbine installation vessels.

Additional information about the Company is available on the Company’s website www.eneti-inc.com, which is not a part of this press release.

Eneti Inc. press release