Edda Wind has signed agreements to divest its entire portfolio of service operation vessels and commissioning service operation vessels, including vessels on order, with the fleet split between North Star and an affiliate of Navigare Capital Partners.
The company announced the transactions on 4 March. Completion is subject to vessel inspections and other closing conditions, and Edda Wind said it would provide additional information after the deals close. Pricing was not disclosed, and the allocation of specific vessels between the two buyers has not been released.
The sale also includes newbuild contracts and represents Edda Wind’s full exit from vessel ownership.
At present, Edda Wind’s fleet consists of six CSOVs and one SOV, with three more CSOVs on order. The operator has adjusted its fleet mix over the past two years, selling Mistral Enabler—previously Edda Mistral—in Q1 2025, around a year after divesting Edda Passat. Two CSOVs, Austri Enabler and Monsoon Enabler, were delivered in June 2024 and August 2024.
For North Star, the planned acquisition would add capacity as the UK-based operator expands in the European offshore wind support market. North Star was acquired by Partners Group in 2022 and secured GBP 425 million of debt financing in 2024 to increase SOV capacity for Europe. It also has forward demand secured through customer commitments: RWE entered a long-term charter partnership for two CSOVs and signed reservation agreements covering two additional newbuild SOVs on order at Norwegian shipbuilder Vard.
The second buyer, an affiliate of Navigare Capital Partners, is building its offshore wind support exposure that began in 2022. That year, Navigare Capital Partners took a majority stake in a partnership with Norwind Offshore, which at the time had five purpose-built vessels entering service between 2022 and 2025. In 2024, Navigare Capital Partners and Vard signed a contract for one tailor-made CSOV with options for two additional vessels. The agreement involving Edda Wind adds operating vessels to a strategy that has been driven primarily by newbuilds.
The transactions come as European offshore wind installation and O&M activity continue to scale. SOVs provide offshore bases for technicians, while CSOVs support wind farm commissioning using motion-compensated gangways and crane systems. With long-term charter demand exceeding available newbuild delivery capacity in recent years, the segment has attracted institutional investors such as Partners Group and Navigare Capital Partners.
Edda Wind, which was previously a unit of Østensjø Rederi, built its fleet to serve the offshore wind market. The vessel split between North Star and the Navigare Capital Partners affiliate has not been detailed.
