Cyan, CMHI Sign Wind Turbine Installation Vessel Deal

July 31, 2023, by Adnan Memija

Cyan Renewables, a Singapore-headquartered offshore wind vessel owner established last year by investment management company Seraya Partners, has signed a Memorandum of Understanding (MoU) with China Merchant Heavy Industry (CMHI) with the goal of manufacturing a wind turbine installation vessel (WTIV).

Cyan Renewables said that this brings them a step closer to their ambition of building new vessels with CMHI, one of the three largest shipyards in the world.

“As one of the largest shipyards in the world, CMHI has a strong track record in building offshore wind vessels, especially Wind Turbine Installation Vessels (WTIV). This MoU opens up a new chapter for future partnerships and we are excited about the opportunities it will unlock for our clients and customers”, said Keng Lin Lee, Group CEO of Cyan Renewables.

This is their second newbuild order in China after signing a letter of intent (LoI) with Cosco Shipping Heavy Industry to build its first Ulstein-design foundation installation vessel (FIV) in April this year.

Cyan Renewables was launched in September last year and, soon after, the firm established an office in Denmark which is the company’s regional headquarters for operations in Europe.

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The company aims to own and operate USD 1 billion in vessels over three years. According to information available on the new company’s website, Cyan’s fleet will include wind turbine installation vessels (WTIVs), a service operations vessel (SOV), and a cable laying vessel (CLV).

A couple of weeks ago, Cyan acquired the service operation vessel (SOV) Groenewind from Belgium-based DEME Group.

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.