![Cadeler raises € 86 million to build a new foundation installation vessel Cadeler raises 86 million to build a new foundation installation vessel](/images/stories/News/News2022/Cadeler_raises__86_million_to_build_a_new_foundation_installation_vessel.jpg)
The net proceeds will be used to finance the down payment on a newbuild foundation installation vessel, the so-called F-class vessel, with an estimated cost of 343-347 million USD, which is expected to be delivered in Q4/2025. Cadeler also aims to secure an option for a second F-class newbuild. The F-class will feature a hybrid design, allowing the vessel to convert from being a foundation installation unit to a wind turbine generator (WTG) installation vessel within a short period of time. The F-class will be able to transport up to six XL monopiles (weight 2,300-2,600mt each) per round-trip.