# Sif Faces Liquidity Crisis Amid Offshore Wind Project Delays Dutch manufacturer Sif cuts production capacity while seeking urgent bridge financing for operations. - **Source:** [offshoreWIND.biz](https://www.offshorewind.biz) - **Published:** 2026-11-10 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/4d1459c7-12ff-40a6-aea5-ddcfcdb6786b ## Production Capacity Reductions Sif will close one of three production lines at its Maasvlakte 2 facility starting in the fourth quarter of 2026. Additionally, operations at the Roermond site will be reduced from the first quarter of 2027. These measures aim to conserve cash and manage costs during a period of significant market uncertainty. ## Project Delay Impact The company faces material uncertainty regarding its ability to operate as a going concern over the next twelve months. This stems from a major 2 GW offshore wind project that still awaits a final investment decision. Without this green light, Sif struggles to secure the necessary funding for its ongoing operations. ## Financial Liquidity Challenges Sif is currently negotiating short-term bridge financing with lenders, the Dutch State, and various stakeholders. The company’s EUR 50 million revolving credit facility is currently unavailable during these ongoing discussions. Furthermore, a EUR 6.7 million term loan repayment originally due on 30 September 2026 was deferred to allow for more negotiation time. ## Equity Issuance Strategy To address its capital structure, Sif plans to seek authorization for additional equity issuance at an extraordinary general meeting on 22 December. Shareholders will be asked to grant the Executive Board power to issue new shares. This move is intended to provide financial flexibility if opportunities to raise capital arise soon. ## Operational Performance Metrics Despite liquidity issues, Sif reported improved results for the first nine months of 2026. Adjusted EBITDA rose to EUR 68.3 million from EUR 26.7 million in 2025. Net loss narrowed significantly to EUR 0.8 million, while production output reached 211 kton, showing a strong operational performance compared to the previous year. ## Market Downturn Factors The current funding challenge is linked to higher costs during the Maasvlakte 2 factory ramp-up and a significant downturn in the offshore wind market. Consequential liquidated damages and project delays have further strained the company's cash position, which dropped from EUR 95.6 million at the end of 2025 to EUR 35.1 million. ## Strategic Workforce Retention Sif aims to retain its skilled workforce despite the production line closures. By spreading existing order book deliveries further into 2027, the company hopes to avoid the operational risks associated with restarting factories. This strategy supports the completion of current contracts, including the East Anglia Two project for ScottishPower Renewables. ## Future Market Outlook CEO Koen Bogers remains focused on the 190 kton exclusive project, with production targeted for summer 2027. Sif expects offshore wind demand to recover by the second half of 2029. The company is currently shortlisted for several tenders starting from 2028, which are vital for maintaining long-term business stability and growth. ## Sources covering this story - https://www.offshorewind.biz/2026/11/10/sif-to-close-one-monopile-production-line-seeks-bridge-financing-amid-uncertainties-with-large-offshore-wind-project — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._