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POSH JV lands first Taiwan wind contract

PACC Offshore Services Holdings' (POSH) newly-formed joint venture (JV) has landed its first contract with Taiwan's budding offshore wind market.

POSH Kerry Renewables, its JV with Taiwan-based logistics firm, Kerry TJ Logistics, will provide anchor handling, supply and standby support to an international geotechnical services operator during the site survey, installation and construction of an offshore wind farm.

The client and the operator of the offshore wind farm were not identified but The Business Times understands that this contract is not with the partnership of Swancor and Macquarie Capital.

The scope of work will begin off the coast of Guanyin and potentially extend to other sites in Yunlin and Taoyuan-Hsinchu. Work is scheduled to commence in the third quarter of this year.

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The JV has also signed a Memorandum of Understanding (MoU) with local marine and towage company Seagreen Enterprise.

POSH and Seagreen will embark on joint initiatives to recruit, train and build up a pipeline of Taiwanese crew. The MoU also provides for Seagreen to leverage on POSH's extensive track record in executing complex offshore marine projects to enhance its operational know-how.

The partnership with Seagreen "supports the Taiwan government's goal of building up local offshore marine capabilities through the exchange of knowledge and best practices", POSH said.

POSH closed flat at 32 Singapore cents on Tuesday.