The Belgian dredging, environmental and marine engineering group DEME and China COSCO Shipping, Chinese shipping and logistics services supplier company owned by People's Republic of China, have formed a joint venture to develop offshore wind energy projects in China.
China COSCO Shipping wishes to enter this new market segment and has found a partner in DEME's subsidiary GeoSea, who has experience in developing, building and maintaining offshore wind farms.
DEME and China COSCO Shipping joint venture will be named as COSCOCS - DEME and it will be active in offshore wind energy exclusively in China.
The cooperation is in line with the Chinese climate vision and its aim to develop renewable energy. The Chinese government wishes to increase the installed capacity of offshore wind energy significantly by 2020.
Alain Bernard, Director and CEO of DEME commented:
"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”.