Singaporean Company Enters European Offshore Wind Market with SOV Acquisition

Singapore offshore wind newcomer Cyan Renewables has acquired a 100 per cent interest in the service operations vessel (SOV) Groenewind from Belgium-based DEME Group.

This transaction marks Cyan’s first acquisition in Europe.

Delivered in 2021 to DEME Group, the SOV is operating under a 17-year long-term contract to service offshore wind farms in Belgium.

The vessel has been directly chartered to Siemens Gamesa for maintenance activities at the Rentel and SeaMade offshore wind farms in Belgium. According to DEME, Groenewind is the first SOV to serve three different wind farm sites, as the SeaMade offshore wind project comprises Seastar and Mermaid offshore wind farms.

The 60-metre SOV, equipped with a motion compensated gangway and daughter craft, can accommodate up to 24 technicians and a nautical crew, and is expected to enable crew transfers in significant wave heights of up to 2.5 metres.

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Groenewind was also the first twin-hulled DP2 advanced dynamic positioning SOV in the world, according to DEME.

When it comes to Cyan Renewables, the company was established last year by Seraya Partners, an investment management company based in Singapore.

Seraya said that Cyan Renewables is Asia’s first pure-play offshore wind farm vessel operator serving the offshore wind farm industry.

The new company, led by Lee Keng Lin as Chief Executive Officer (CEO), aims to own and operate USD 1 billion in vessels over three years.

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