Fred. Olsen Windcarrier ASA (FOWIC) secured strategic contract with an undisclosed client. Scope of work is transport and installation of next generation turbines and scheduled to commence in second half of 2024.

The installation project will be executed by one of FOWIC's Tern vessels featuring a new crane. The fixed contract duration is approximately 15 months with a contract value of approximately EUR 150 million. The contract has a significant element of subcontractors.

The revenue backlog as of March 31, 2022 has increased to approximately EUR 540 million including options.