Cyan Renewables makes European debut with Groenewind acquisition

Asian offshore wind services platform, Cyan Renewables, a subsidiary of Seraya Partners, has declared its acquisition of Groenewind, an advanced Service Operations Vessel (SOV) based in Belgium.

The SOV, only two years old and functioning under a 17-year contract, services offshore wind farms in Belgium. The acquisition represents Cyan Renewables’ inaugural venture into Europe.

Groenewind, commissioned in 2021, was the first dual-hulled DP2 dynamic positioning SOV worldwide. The vessel offers secure crew transfers during substantial wave heights and can maintain its position in turbulent sea conditions. Engineered for energy efficiency, Groenewind lessens fuel consumption and encompasses a built-in waste heat recovery system. The SOV is equipped with a motion compensated gangway and a daughter craft, ensuring safety and comfort for its 24 crew members and technicians.

Seraya Partners wholly owns Cyan Renewables, a fund the firm established in 2022 to meet the burgeoning demand for offshore wind vessel services across Asia. Cyan Renewables’ leadership comprises Group CEO Kenglin Lee, Europe CEO Lars Zohner, and a team of marine and renewables experts based in Singapore and Denmark.

Kenglin Lee, Group CEO of Cyan Renewables, stated, “We have been in the offshore wind services industry for over 20 years and serviced more than 50 offshore wind farms. We are a trusted partner for wind farm developers and owners. Combining our track record with Seraya resources, we plan to operate a US$ 1 billion fleet over the next 3 years in Asia and Europe.”

James Chern, Managing Partner and Chief Investment Officer of Seraya Partners, expressed, “We are a first mover in Asia and one of the few players globally with a proven track record in the offshore wind services sector. The long-term contracted nature of these vessels, often with inflation and cost pass through structures, make them ideal core infrastructure assets that our investors seek.”

Cyan Renewables is Seraya Partners’ third venture in energy transition and digital infrastructure. The firm introduced Empyrion DC in 2021 to focus on green data centre solutions and launched Astrid Renew in 2022 to concentrate on electric vehicle charger and energy storage opportunities.