Singapore-based offshore wind vessel pure-play Cyan Renewables has acquired a 75% stake in offshore support vessel specialist Sentinel Marine, owner of the youngest fleet of emergency response and rescue vessels (ERRVs) in the UK.
Sentinel Marine has a fleet of 13 high-specification offshore support vessels which enables them to respond to environmental emergencies, such as oil spills and other incidents. The company’s fleet is also designed to support various offshore activities such as offshore wind, fisheries control, and maritime surveillance.
Through this acquisition, Sentinel’s multi-role ERRVs will add to Cyan Renewables’ vessel portfolio, helping the Singapore firm expand into the UK offshore wind market.
“[Sentinel Marine] is well positioned to pivot and capture a slice of the fast-growing offshore wind market in the UK. This acquisition [is] also in line with Cyan Renewables’ goal to double our fleet through the acquiring and newbuilding of vessels in the coming years,” said Lee Keng Lin, founding CEO of Cyan Renewables.
“With Sentinel Marine’s capabilities in marine protection, Cyan Renewables will be well on its way to achieving its ESG goals with an impact not just in Asia, but also in the UK and Europe regions,” added James Chern, chairman of Cyan Renewables.
Cyan Renewables, a portfolio company of Seraya Partners, entered the European offshore wind market last year with the acquisition of the service operations vessel Groenewind from Belgium’s DEME Group.
