Ezion enters China offshore windfarm market

EZION Holdings Limited, provider of liftboats and service rigs, on Thursday officially entered the China offshore windfarm market.

In a filing with the bourse operator, it said that this comes after the formal establishment of Sinomarine & Teras (Tianjin) Offshore Co, Ltd with Sinotrans & CSC Holdings on Tuesday.

The development comes after Ezion announced on Dec 14, 2015, that it had entered into a strategic cooperation agreement with a Chinese state-owned enterprise, China Huadian Corporation, to support offshore wind power installation projects in China.

Wang Kai Yuen, chairman of Ezion said that the development of renewable energy will not only improve China's climate and environment, but also benefit the world as major countries have deliberated and concluded clear objectives during the 2015 United Nations Climate Change Conference in Paris.

Sinomarine & Teras (Tianjin) Offshore Co, Ltd will enable the integration of domestic requirements for the operations of service rigs in the offshore wind farm market in China, and has received strong support from the Administration Commission of Tianjin Dongjiang Free Trade Port Zone.

The group said that Sinomarine & Teras (Tianjin) Offshore Co, Ltd also signed a strategic cooperation agreement on Tuesday with China Huadian Corporation to support offshore wind power installation projects in China. It expects to operate two service rigs for offshore wind farm installation project by the end of 2016.