Singapore Investor Establishes Pure-Play Offshore Wind Vessel Company

Seraya Partners, an investment management company based in Singapore, has launched a pure-play offshore wind farm vessel company named Cyan Renewables.

For illustrative purpose only; Photo source: Swancor Renewable Energy (archive)

The founding company says Cyan aims at accelerating the growth of the offshore wind sector through a dedicated fleet of wind farm support vessels for offshore wind projects globally.

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.

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).

“Offshore wind is both a key enabler of net zero and energy security today, and an impetus to grow the pool of specialised vessels to support offshore windfarm work”, said Cyan’s CEO Lee Keng Lin.

“Singapore as an international maritime centre with the necessary infrastructure will be key in us reaching our vision, and I look forward to future collaborations with partners across the maritime ecosystem”.

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

The new company is Seraya’s third energy transition platform. The investment management firm established the green data centre operator Empyrion DC in 2020, and launched an electric vehicle charging network operator in Taiwan this year, named Astrid Renew.

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