Cadeler Shares Rise: Cadeler Subsidiary Nexra Wins €20 Million O&M Contract in Taiwan, Strengthening Aftermarket Position

Copenhagen (Denmark) - Cadeler subsidiary Nexra has signed a binding contract for an Operations & Maintenance (O&M) campaign in Taiwan. The contract has an expected value of more than €20 million and will be carried out in two offshore wind farms. The work will begin in March 2026 and is expected to last three to four months. The wind installation vessel Wind Maker is planned for the execution.

Nexra was founded in 2025 as Cadeler’s dedicated service concept and focuses exclusively on O&M services. “This contract underlines Nexra’s strength in execution and flexibility to respond quickly to client needs in the operational phase of offshore wind farms. In securing near-term campaigns such as this, Nexra demonstrates its ability to drive utilisation across Cadeler’s fleet, while continuing to deliver the reliability and technical expertise our clients expect,” said Mikkel Gleerup, CEO of Cadeler, about the contract.

Aftermarket importance is growing for Cadeler: O&M activities accounted for around one fifth of total revenue in 2025. The company is responding to the increasing installed base of offshore wind turbines, particularly in the 10-15 MW performance segment, which will require powerful and flexible service vessels in the future. Nexra’s portfolio includes the vessels Zaratan, Wind Scylla, and Wind Keeper; additional units can be deployed if needed.

With the Taiwan contract, Nexra is expanding its presence in the Asia-Pacific region. “Nexra allows us to support our clients throughout the lifecycle of their projects - from installation to long-term operations and maintenance, including main component exchange”, Gleerup added.

Cadeler’s stock, listed on the renewable energy index RENIXX World, gained 8 percent in the first four trading days of this week to €5.51 (closing price on 12 February 2026, Stuttgart Stock Exchange).

Source: IWR Online, 13 Feb 2026