The Belgian dredging, environmental and marine engineering group DEME and China COSCO Shipping - the largest shipping company in the world – have formed a joint venture to develop offshore wind energy in China.
The cooperation is in line with the Chinese climate vision and its aim to develop renewable energy, both of which were recently incorporated in the 13th Five-Year Plan (2016-2020) for social and economic development. The Chinese government wishes to increase the installed capacity of offshore wind energy significantly by 2020.
DEME and China COSCO Shipping are both market leaders in their sectors and have found one another in the COSCOCS - DEME joint venture active in offshore wind energy in China.
As the largest shipping company in the world, China COSCO Shipping wishes to enter this new market segment and has found a partner in DEME's subsidiary GeoSea, with its extensive experience in developing, building and maintaining offshore wind farms.
Image courtesy: DEME
Alain Bernard, Director and CEO of DEME comments: "As a pioneering company, DEME is a global leader in offshore wind energy, offering overall solutions through Engineering, Procurement, Construction, Installation & Maintenance (EPCIM) contracts. Thanks to the accumulated know-how and experience with complex infrastructure projects at sea, DEME can support and carry out China COSCO Shipping’s offshore wind vision. The cooperation is also in line with the Group's partnering philosophy, in which DEME expands its international activities through sustainable cooperation with local partners. Such combinations have repeatedly proven successful in DEME's dredging and environmental divisions. The joint venture with China COSCO Shipping is a win-win for both parties and will contribute to realising the ambitious Chinese climate objectives”.