FTAIF II – Continuation of the partnership with Northern Offshore Group

Pursuing its long-term partnership with the Swedish operator NORTHERN OFFSHORE GROUP (NOG), FLEXAM TAIF II closed a new financing agreement with its Danish subsidiary NORTHERN OFFSHORE SERVICES for the acquisition and the conversion of 2 crew transport vessels (CTVs). The two vessels, built in 2016 by Piriou Shipyard, will see their diesel engines replaced by hybrid ones, allowing transport of team and material to offshore windfarms.

These CTVs will be equipped with innovative hybrid engines (diesel + electric) that meet the latest requirements of both international environmental regulations and final users’ exigencies and will be able to carry up to 24 people on board. The upgrading of these assets, financed by FLEXAM TAIF II, will be realized in Denmark during the first half year 2022 by the century-old shipyard FAYARD.

“We are very pleased to have this the long-term relationship with Flexam Invest, and this transaction marks another successful development for Northern Offshore Services, financed by Flexam Invest

David Kristensson, CEO Northern Offshore Group

This new investment by FLEXAM TAIF II follows on from the three previous operations carried out in partnership with NOG in May 2019, July 2020, and October 2021. Flexam Invest is positioned as a privileged long-term partner of NOG, no. 1 in Europe in the CTV sector for operation and maintenance, operating its vessels on behalf of major players in the renewable energy sector (ORSTED, SIEMENS, RWE, etc).