Siemens Gamesa and Fred. Olsen have sealed a long-term strategic agreement. The signing, announced in March 2026, links both companies in a fixed ten-year operation and maintenance contract, consolidating an alliance that guarantees technical support for the next generation of offshore wind farms.
The contract, which will come into effect in the first quarter of 2028, grants Siemens Gamesa preferential access to the flagship vessels of the Norwegian fleet, the Bold Tern and the Brave Tern. These units, designed for the installation and maintenance of heavy components, will be responsible for servicing Siemens Gamesa’s turbines of up to 15 MW, the ‘beasts’ of the industry that currently define the efficiency of the offshore sector.
As confirmed by Bonheur ASA, the parent company of Fred. Olsen Windcarrier, the agreement not only ensures a decade of uninterrupted work but also includes optional additional periods that could extend the relationship well beyond the initial expiration date. The financial terms, described as ‘negotiated under market conditions’, reflect the high demand for jack-up installation vessels capable of handling rotors over 230 meters in diameter.
This deal comes at a time of maximum activity for the Fred. Olsen fleet. Currently, the Brave Tern is in Danish waters installing 72 turbines of the model SG 14-236 DD at the massive Thor wind farm (1.1 GW). Additionally, the vessel’s schedule is already booked for 2028, when it will move to the German Gennaker park to install another 63 units from the same manufacturer.
For Siemens Gamesa, the agreement is a risk mitigation maneuver. The global shortage of specialized offshore wind vessels has been, for years, one of the greatest bottlenecks for the deployment of clean energy. By securing the availability of the Bold Tern and Brave Tern for ten years, the turbine manufacturer eliminates a critical variable from its operational cost equation.
On its part, Fred. Olsen Windcarrier achieves extraordinary revenue visibility in a sector where contracts are usually for specific projects. For analysts, this alliance is a clear indicator that the offshore market is shifting from the ‘frenzied installation’ phase to ‘long-term asset management’, where maintenance reliability is as profitable as the initial construction.
