Malaysian billionaire enters Taiwan wind energy sector with new joint venture

Kerry TJ Logistics and PACC Offshore Services team up for joint venture to provide integrated solutions to Taiwan’s offshore wind market

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Wind farm. (image courtesy of Pixabay)

TAIPEI (Taiwan News) – Sinaporean offshore marine services company PACC Offshore Services and Taiwan-based logistics company Kerry TJ announced a new joint-venture (JV) company named POSH Kerry Renewables on July 12, in a bid to provide integrated solutions for developers, manufactures and contractors engaged in Taiwan's offshore wind market.

Malaysian tycoon Robert Kuok is a controlling shareholder of PACC Offshore Services and also owns a stake of Kerry TJ. This will be his first venture into Taiwan's wind energy market.

Taiwan is an ideal location for offshore wind farms and the Taiwan Government's committed to moving the country away from nuclear power. The government has set a target to increase its renewable energy production to 20 percent by 2025.

To this end, the government has rolled out the welcome mat to attract foreign investment into Taiwan's renewable industries.

The JV hopes to exploit both PACC Offshore Services' marine operations experience and Kerry TJ's local network and logistics expertise.

"This is the first time that two major players in their respective fields have integrated supply chain and marine solutions on a single platform capable of supporting the entire offshore renewables project life cycle" said POSH Kerry Renewables in a press release.

POSH Kerry Renewables will provide a wide range of services including transport of wind turbines and components, operations, and maintenance of wind farms, according to the press release.

The JV has signed a memorandum of understanding (MoU) with British manufacturer Rolls-Royce to jointly develop purpose-built vessels for offshore wind farms.

POSH Kerry Renewables has also signed a MoU with both Macquarie Capital and Swancor to explore a wide variety of cooperation opportunities within Taiwan's offshore energy market.