Cadeler (CDLR) said Monday it has made agreements with COSCO Shipping Offshore shipyard to build two T-class wind turbine installation ships.

The project carries a total cost of roughly 805 million euros ($930.8 million), with ship deliveries planned for 2030 and 2031, the company said.

Equity funding raised earlier this year will back the construction of the larger vessels designed for complex wind power projects, the company said.

Early negotiations have already started with clients to contract the new fleet, it said.