Wind Energy – South Korea
Cyan Renewables has forged yet another partnership to strengthen the supply chain of the offshore wind sector in South Korea, especially in the areas of operations and maintenance (O&M).
Signing the Memorandum of Understanding (MOU) with DRS KWP, a subsidiary of the well-established Daeryuk Group, Cyan Renewables is looking to capitalise on DRS KWP’s extensive local network and industrial experience to deepen local content, while supporting the growing demands of the rapidly expanding offshore wind market in South Korea.
Cho Kyu Sung, Executive Vice President of DRS KWP, said: “Our collaboration with Cyan Renewables is a testament to our shared vision of supporting South Korea’s renewable energy ambitions. By combining our profound local knowledge with Cyan Renewables’ vast operational know-how, we are well-positioned to make a substantial impact on the offshore wind sector in South Korea.”
Keng Lin Lee, CEO of Cyan Renewables, said: “We recognise the immense potential of offshore wind in South Korea and are excited to partner with DRS KWP, whose local expertise and capabilities complement our own. This MOU marks a significant step towards resolving supply chain issues and driving growth in South Korea’s offshore wind industry. Together, we are committed to enhancing operational efficiency, deepening local ties and expanding our market reach, as we support South Korea’s transition towards a green economy.”
With the natural synergy between Cyan Renewables’ supply of Service Operations Vessels (SOVs) and DRS KWP’s provision of Crew Transfer Vessels (CTVs), this collaboration not only eases the supply chain constraints in South Korea’s offshore wind industry, but also enhances local content and cultivates more local maritime talents for South Korea to meet the ambitious target of generating 14.3 GW of offshore wind capacity by 2030.
