Wärtsilä Lifecycle Agreement to guarantee operational reliability of new Wind farm Installation Vessel

Wärtsilä Corporation, Press release 26 March 2024 at 11:00 UTC+2
  • Wärtsilä has signed a long-term Guaranteed Asset Performance agreement for CDWE’s new 216 metres-long marine installation vessel (MIV), the ‘Green Jade’ (pictured) © CDWE
  • Wärtsilä has signed a long-term Guaranteed Asset Performance agreement for CDWE’s new 216 metres-long marine installation vessel (MIV), the ‘Green Jade’ (pictured) © CDWE

Technology group Wärtsilä has signed a long-term Guaranteed Asset Performance agreement with CSBC-DEME Wind Engineering Co Ltd (CDWE), a joint venture between CSBC Corporation and DEME Offshore. The agreement covers CDWE’s new 216 metres-long marine installation vessel (MIV), the ‘Green Jade’. The order was booked by Wärtsilä in Q1 2024.

Green Jade is designed and built in Taiwan with the mission to facilitate government policy to make Taiwan sustainable. As Green Jade will be managing diverse projects and varying offshore distances, operational reliability is of utmost importance. The extensive service support provided by the Wärtsilä Lifecycle Agreement will maximise the vessel’s uptime and significantly mitigate the risk of delays to the installation work by ensuring regular maintenance, timely repairs and access to technical support.

Marco Kanaar, CEO of CDWE, owner of the offshore heavy lift DP3 installation vessel Green Jade says: "High utilisation of our Green Jade is of utmost importance to our business which is why we have selected the Wärtsilä thrusters and engines for its reputation for excellent quality and reliability. By formalising our partnership with Wärtsilä through this maintenance agreement, we are not only enhancing the operational efficiency and asset availability of our fleet but also fostering our joint commitment to nurturing local talent, facilitating employment opportunities and solidifying a foundation for sustained success in Taiwan's offshore industry." 

The full scope of the agreement includes remote operational support, a propulsion condition monitoring service and Wärtsilä’s Expert Insight predictive maintenance service. Expert Insight utilises artificial intelligence and rule-based advanced diagnostics to continuously monitor operating data. This secures asset availability and reliability.

“From the very first discussions it was clear that availability, maintenance flexibility and reliability were essential for this project with CDWE during project execution. This vessel holds a special flag administration and classification society exemption, permitting 7.5 years drydocking intervals. This is enabled with data, AI and close collaboration between us and the ship operator,” comments Henrik Wilhelms, Director, Agreement Sales, Wärtsilä Marine.

The agreement also includes comprehensive scheduled maintenance, including all major overhauls of the ship’s Wärtsilä engines and thrusters, along with original spare parts. The time-between-overhaul guarantees, provided by the agreement, decrease the frequency of overhauls. This not only significantly reduces the cost, but also minimises the environmental impact of the maintenance. 

Media contact for more information on this release:

Isabella Alder
Positioning and Strategic Communications Manager
Wärtsilä Marine
Tel: +44 (0) 7792 681 757

Image(s) caption: Wärtsilä has signed a long-term Guaranteed Asset Performance agreement for CDWE’s new 216 metres-long marine installation vessel (MIV), the ‘Green Jade’ (pictured) © CDWE

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Wärtsilä Marine in brief:
Wärtsilä Marine is a global pioneer in power, propulsion and lifecycle solutions for the marine market. We develop industry-leading technologies, advancing maritime's transition to new fuels. We support building an end-to-end digital ecosystem where all vessels and ports are connected. Ultimately, Wärtsilä Marine is driving the shipping industry forward on its journey towards a decarbonised and sustainable future through our broad portfolio of engines, propulsion systems, hybrid technology, exhaust treatment, shaft line solutions and digital technologies, as well as integrated powertrain systems. Our offering, which is underpinned by our performance-based agreements, upgrades, lifecycle solutions, decarbonisation services, as well as an unrivalled global network of maritime expertise, delivers the efficiency, reliability, safety, and environmental performance needed to support a safe and sustainable future for our customers, our communities and our planet.

Wärtsilä in brief
Wärtsilä is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets. We emphasise innovation in sustainable technology and services to help our customers continuously improve environmental and economic performance. Our dedicated and passionate team of 17,800 professionals in more than 280 locations in 79 countries shape the decarbonisation transformation of our industries across the globe. In 2023, Wärtsilä’s net sales totalled EUR 6.0 billion. Wärtsilä is listed on Nasdaq Helsinki.