Kim Heng had signed a vessel framework agreement with an unnamed global offshore wind farm developer in Korea.
The Singapore-headquartered offshore vessel operator and marine engineering services provider said the deal had been secured via its subsidiary Adira Renewables and Soiltech Engineering Korea (STE).
Under a four-year agreement, Kim Heng will provide a geotechnical drilling vessel and together with STE provide offshore geotechnical investigation services.
The contract can be extended and renewed on a mutual basis for another two years at the end of the term and provides the right of first refusal for the developer to secure the use of Kim Heng’s geotech vessel and survey services at agreed rates.
Thomas Tan, executive chairman and CEO of Kim Heng, said the partnership with STE empowers the company to make a significant step forward in its diversification into renewable energy.
