Singapore-based infrastructure investor Seraya Partners has launched wind farm vessel company Cyan Renewables with the goal to own and operate a $1-billion portfolio over the next three years, it said in a statement.
The newly-established platform will own, operate and lease vessels across the offshore wind farm value chain, including crew transfer vessel, service operation vessel and wind turbine installation vessel.
Headquartered at Singapore and Denmark, Cyan will be helmed by industry veteran Keng Lin Lee as chief executive officer, who has more than 15 years of experience at PACC Offshore Services Holdings, a Singapore-based offshore marine service provider.
“Offshore wind farms form the backbone of energy transition reducing our dependence on fossil fuels. Asia is starting to develop offshore wind farms and there’s a clear value proposition that Cyan can deliver to end users,” said James Chern, chairman and managing partner of Seraya Partners.
“We are fully committed to growing Cyan into the world’s first pureplay offshore wind farm vessel operator.”
Cyan, which is Asia’s first pure-play offshore wind farm vessel operator, is the third wholly-owned platform of Seraya after its Taiwan-based EV charging station operator Astrid Renew and data centre operator Empyrion.
In August, the data centre vehicle made a $400-million investment to develop a 40MW data centre project in Seoul.