IOG Takes Full Ownership of CWind Taiwan

Business & Finance

July 27, 2023, by Adnan Memija

International Ocean Group (IOG) has announced that it acquired CWind’s majority shares in CWind Taiwan, making IOG the sole owner of CWind Taiwan.

IOG said that this strategic move allows for better integration of CWind Taiwan into IOG’s portfolio, which also includes IOVTEC, Taiwan International Windpower Training Corporation (TIWTC), Fugro IOVTEC, and IOG Shipyard.

The acquisition is said to align with IOG‘s focus on localisation, supporting the growth of Taiwan’s talent pool and supply chain

According to the press release, by investing in local resources, CWind Taiwan will contribute to the green agenda set forth by the Taiwanese Government, while meeting the increasing demands of the APAC offshore wind market.

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“As the sole owner of CWind Taiwan, IOG can seamlessly integrate the company within our existing portfolio, creating synergies across our operations. This move will enable us to offer enhanced services to our clients, delivering on their project requirements while maintaining the European standards of safety that CWind Taiwan has been renowned for over the past five years”, said Ethan Wang, Chief Operating Officer at IOG and General Manager at CWind Taiwan.

CWind Taiwan was established in early 2018 as a joint venture between IOG (formerly known as IOVTEC) and CWind, a UK-based offshore wind services provider, and part of the Global Marine Group.