Singapore’s Ezion Holdings and an unnamed Chinese state-owned enterprise (SOE) have formed a new joint venture, which will charter Ezion’s service rigs to support offshore windfarm projects in China.
Ezion said the undisclosed SOE is a “large-scale modern corporate group with world-wide businesses in integrated logistics, shipping and shipbuilding industry”.
The SOE will look after the Chinese regulatory requirements for integrating the service rigs into China’s offshore windfarm market. Ezion will be responsible for the rigs’ technical, operational and commercial management.
The new joint venture will complement the contract Ezion won in December, through which the Singapore-listed company will supply liftboats and service rigs to offshore windfarm installations in China.
China has aimed to install 5GW of offshore wind power capacity by the end of 2015 and 30GW by 2020. The 2015 target has not yet been met, so more windfarms are expected to be installed in China within the next couple of years.
