DEME Group, a Belgian dredging, environmental and marine engineering group, and China Cosco Shipping have signed an agreement formalizing their previously announced joint venture to develop offshore wind energy in China.
According to DEME, 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. As reported, the Chinese government wishes to increase the installed capacity of offshore wind energy significantly by 2020.
As one of the largest shipping companies in the world, China Cosco Shipping wishes to enter this new offshore wind market segment, having found a partner in DEME’s subsidiary GeoSea, with its extensive experience in developing, building and maintaining offshore wind farms.
Alain Bernard, director and CEO of DEME, says the company is well-positioned to support and carry out China Cosco Shipping’s offshore wind vision, offering comprehensive engineering, procurement, construction, installation and maintenance services.
“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,” Bernard adds. “The joint venture with China Cosco Shipping is a win-win for both parties and will contribute to realizing the ambitious Chinese climate objectives.”