China Cosco, DEME in Offshore Wind Deal
The Belgian dredging, environmental and marine engineering group DEME Group and Chinese COSCO Shipping have officially embarked on a joint journey to develop offshore wind energy in China, under an umbrella agreement signed on 31 October, following the two companies’ joint venture announcement in May.
DEME and China COSCO Shipping are both market leaders in their sectors and have found one another in the COSCOCS - DEME joint venture active in offshore wind energy in China.
As the largest shipping company in the world, China COSCO Shipping wishes to enter this new market segment and has found a partner in DEME's subsidiary GeoSea, with its extensive experience in developing, building and maintaining offshore wind farms.
The agreement was signed in Beijing, in the presence of Belgian Prime Minister Charles Michel and the Chinese Premier Li Keqiang, signifying the importance of the cooperation and Chinese vision concerning the transition to renewable energy, DEME said.
“The joint venture with COSCO Shipping is a win-win for both parties and will contribute to realising the ambitious Chinese climate objectives but creates also perspectives on further development and services in COSCO Shipping’s areas of expertise such as heavy lift transport, shipbuilding, etc,” said Luc Bertrand, Chairman of DEME.
