Catalist-listed Mooreast Holdings has signed an agreement with a Chinese-state owned infrastructure development company to collaborate on opportunities in the floating offshore renewable energy space.
The strategic cooperation agreement was signed with a subsidiary under China Communications Construction Company (CCCC) Mechanical & Electrical Engineering Co, to explore projects in China and the rest of the world.
Mooreast says that the agreement will tap on the scale of operations, expertise, resources, reputation and network of CCCC M&E within China and on Mooreast’s technical capabilities, track record and international network in the green and low-carbon development and floating renewable energy sector including offshore wind farms.
In addition, both parties will explore related opportunities to establish an offshore wind-related industry supply chain, and pursue projects involving engineering, production, sub-assembly, transportation and/or installation of mooring and rigging systems, wind turbines, floaters and related components or equipment for floating wind energy, as well as for other offshore and marine projects.
“The floating offshore wind sector in China is relatively untapped compared to what has been developed onshore. We look forward to deepening our collaboration in the near future to tap domestic and international opportunities,” says Sim Koon Lam, executive director and deputy chairman of Mooreast.
Shares in Mooreast closed flat at 14.4 cents on Sept 22.
