Malaysian billionaire enters Taiwan wind energy sector with new joint venture

Kerry TJ Logistics and PACC Offshore Services team up for joint venture to provide integrated solutions to Taiwan’s offshore wind market

Taiwan News
Date: 2018/07/13
By: Scott Morgan, Taiwan News, Staff Writer

Wind farm. (image courtesy of Pixabay)

TAIPEI (Taiwan News) – Sinaporean offshore marine services company PACC Offshore Services and Taiwan-based logistics company Kerry TJ announced a new joint-venture (JV) company named POSH Kerry Renewables on July 12, in a bid to provide integrated solutions for developers, manufactures and contractors engaged in Taiwan’s offshore wind market.

Malaysian tycoon Robert Kuok is a controlling shareholder of PACC Offshore Services and also owns a stake of Kerry TJ. This will be his first venture into Taiwan’s wind energy market.

Taiwan is an ideal location for offshore wind farms and the Taiwan Government’s committed to moving the country away from nuclear power. The government has set a target to increase its renewable energy production to 20 percent by 2025.

To this end, the government has rolled out the welcome mat to attract foreign investment into Taiwan’s renewable industries.    [FULL  STORY]

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