Today marks the beginning of an exciting new chapter for MMA Offshore. We are pleased to advise that MMA is now a subsidiary of Cyan Renewables.
We are incredibly pleased to share that Cyan Renewables has officially sealed the agreement to acquire MMA Offshore Limited. This strategic acquisition not only boosts our existing fleet with 20 more vessels but also allows us to tap into MMA Offshore Limited's expertise in the Australian offshore wind market. Cyan Renewables and Seraya Partners first approached the Australian-listed company in October last year, and we are thrilled to finalise the deal this month with the overwhelming support from the shareholders. James C., Managing Partner and CIO of Seraya Partners, Cyan’s main investor, said, “The new deal is transformative and reflects our ability to build and create platforms from scratch, spanning from Asia to Europe. With Cyan's acquisition of Sentinel in the UK and now MMA in Australia, we are rapidly establishing world-class leaders in new, fast-growing sectors.” Based on the Global Offshore Wind Report in 2022, the global offshore wind installations are on track to grow 10-fold by 2035, reaching 519 gigawatts. With over 5,000 offshore wind turbines expected to be installed in the Asia Pacific in the coming years, this move positions Cyan Renewables to meet the demands of the much-anticipated boom in offshore wind projects across the region, particularly in Australia. As expressed by Keng Lin Lee 李庆仁, Chief Executive Officer of Cyan Renewables, "The acquisition of MMA is a significant milestone for our future as a leader in the renewable energy space. This move strengthens our position in the Asia-Pacific region and solidifies our leadership in the offshore wind industry and energy transition. This acquisition brings extensive maritime services expertise and a strong operational presence in key markets such as Australia and the broader APAC region.” David Ross, Managing Director of MMA Offshore Limited, said, “We are excited to be part of the Cyan Group to accelerate progress in achieving net zero goals in the maritime industry. Cyan’s expertise in offshore wind farms and investment capability, combined with our best-in-class maritime and offshore solutions, will foster innovation and operational excellence, accelerating the energy transition.” In leveraging this partnership, Cyan Renewables strives to support the accelerating growth of offshore wind projects in Asia and beyond, driving the global transition to sustainable renewable energy. Read the full press release here: https://lnkd.in/g-fK4AD4 #CyanNews #OffshoreWind #MaritimeLeadership #MaritimeExcellence #MaritimeIndustry #GlobalMaritime #Shipping #EnergyTransition #Sustainability #NetZero #RenewableEnergy #SustainableEnergy #GreenEnergy #MaritimeSG #AustraliaOffshoreWind #FloatingWind #TheFutureIsFloating #GreenFuture