Chelmsford, 25th January 2018. CWind, a leading provider of power cable and asset management services to the offshore renewables and utilities market, and part of the Global Marine Group, announced today the formation of a joint venture with International Ocean Vessel Technical Consultant (IOVTEC), a survey and crew transfer vessel (CTV) service provider based in Taiwan.
The new joint venture, CWind Taiwan, will provide offshore wind farm training and best practice, and support services to Taiwanese offshore wind farm developers and owners. The partnership is a strong strategic fit, leveraging the two companies’ respective strengths: CWind’s extensive offshore renewables experience and proven ability to develop local content, and IOVTEC’s detailed knowledge of the Taiwanese offshore renewables market. The collaboration will significantly expand CWind’s reach in Taiwan, while broadening the deliverable capabilities of IOVTEC.
“Launching CWind Taiwan is another bold step in the strategic growth of the Global Marine Group,” said Ian Douglas, Chief Executive Officer of Global Marine Group. “We believe the Taiwan offshore renewable market is on the cusp of exponential growth due primarily to the introduction of the Greenhouse Gas Reduction and Management Act, which seeks to increase the percentage of renewable energy contribution from six to twenty percent by 2025. According to 4C Offshore, Taiwan is expected to achieve 5.5 GW of installed offshore wind capacity by 2025. CWind’s impressive track record around the world, combined with IOVTEC’s local insights, perfectly positions CWind Taiwan to play what we believe can be a significant role in shaping the future of Taiwan’s energy market.”
