North Star has completed a debt financing package to support its continued growth, broaden its lender group and improve financing terms.
The £275 million financing covers the company's existing shipbuilding commitments in full and provides additional capital for future vessel acquisitions and newbuild projects.
The financing is structured across sterling and euro tranches, reflecting North Star's revenue base in both currencies. The lender group now includes Rabobank, KfW IPEX-Bank and LBBW, while existing lenders RBS, AIB, Scottish National Investment Bank and RBC have increased their commitments. RBC Capital Markets acted as lead adviser on the transaction.
Since entering the offshore wind sector in 2021, North Star has committed more than £750 million to service operation vessels (SOVs) and secured contracts for projects with Dogger Bank, RWE, EnBW and Siemens Gamesa Renewable Energy. Following the acquisition of four vessels in April 2026, the company's offshore wind fleet has grown to 14 SOVs, moving it towards its target of operating 40 SOVs by 2040.
North Star is backed by Partners Group.
