Ezion Holdings establishes offshore wind JV in China

Ezion Holdings Limited, a well known owner and operator of liftboats and service rigs based in Singapore has marked its entrance into the Chinese offshore wind energy market with the formal establishment of Sinomarine & Teras (Tianjin) Offshore Co Ltd with Sinotrans & CSC Holdings Co Ltd.

A ceremony was held in Tianjin, China on 28 June 2016 to mark the deal and was attended by representatives of the Chinese government, officials from the Tianjin Dongjiang Free Trade Port Area, Chinese port authorities, IE Singapore, power generation companies, banks and senior representatives of Ezion Holdings Limited and Sinotrans & CSC Holdings.

Dr Wang Kai Yuen, chairman of Ezion Holdings Limited, said: “We are honoured to enter into a joint venture with Sinotrans & CSC Holdings for the formal establishment of Sinomarine & Teras (Tianjin) Offshore Co Ltd. This enables us to participate, share and apply our experience and expertise to the offshore wind energy market in China.”

Ezion Holdings said establishment of Sinomarine & Teras is “a key development for the group” following the announcement on 14 December 2015 in which Ezion said that it had entered into a strategic co-operation agreement with a Chinese state-owned enterprise, China Huadian Corporation, to support offshore wind power installation projects in China.

Ezion Holdings has further strengthened its relationship with China Huadian Corporation after the new entity signed a strategic co-operation agreement with China Huadian Corporation to support offshore wind installation projects in China. The Singaporean company said it expects to have two service rigs operating in the Chinese offshore wind market by the end of 2016.