Dutch offshore foundations manufacturer Sif has raised concerns over a slowdown in offshore wind tendering, warning that postponed and cancelled projects are creating significant uncertainty across the supply chain.
In its third-quarter update, the company said tendering activity had weakened in recent months as developers and governments in Europe and the UK struggled to launch large-scale offshore wind auctions. Sif’s CEO Fred van Beers attributed the stagnation to market hesitancy, rising construction costs, and limited subsidy allocations, which have delayed investment decisions and tender outcomes.
“The market remains difficult, with only a small number of new tenders moving forward,” van Beers said. “Fast decision-making and effective implementation of EU measures are crucial to restore momentum in the offshore wind sector.”
The executive noted that despite market headwinds, Sif’s production performance improved slightly in the third quarter. Adjusted EBITDA rose to €13.8 million, up from €5.2 million in the same period last year, supported by stabilised operations and production throughput of 44K tonnes compared with 42K tonnes a year earlier.
Sif’s order backlog reached 586K tonnes at the end of September, including 200K tonnes under exclusive negotiation. The company said its 2026 orderbook is secured with firm contracts, while visibility for 2027 will improve in early 2026.
The broader offshore wind market remains tense following news that the Netherlands received no bids for its latest offshore wind farm tender. To prevent a further standstill, Dutch Climate and Energy Minister Sophie Hermans plans to reintroduce subsidies for offshore projects — the first such move in seven years.
Sif shares fell 2% after the quarterly update. The company reaffirmed its downgraded full-year EBITDA forecast of €45 million, compared with earlier expectations of €90–120 million.
