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Taiya Renewable Energy announced today (31^th May) its collaboration with Cyan Renewables, a well-known offshore wind vessel company based in Singapore, by signing a memorandum of understanding (MoU). Taiya Renewable Energy aims to proactively deploy vessels to enhance the capacity for wind farm construction. Cyan Renewables, as the world's first specialized operator of offshore wind work vessels, will contribute to offshore wind farm development in Taiwan and collaborate with Taiya Renewable Energy, addressing critical maritime supply chain challenges faced by the domestic offshore wind industry.

Richard Liu, General Manager of Taiya Renewable Energy, stated that as countries worldwide are vigorously developing offshore wind energy, demand exceeds supply, and various developers are competing for different types of work vessels. Even if vessels are available for rent, the costs are significantly increased. The collaboration with Cyan provides an added layer of assurance, enhancing the supply capacity of work vessels for offshore wind power in Taiwan and facilitating smooth progress in wind farm construction. With 30 years of experience operating maritime engineering vessels globally, Cyan's fleet includes Crew Transfer Vessels (CTV), Service Operation Vessels (SOV), Foundation Installation Vessels (FIV), Wind Turbine Installation Vessels (WTIV), and Cable Laying Vessels (CLV). It is believed that Cyan can provide stable and reliable top-notch services for the construction of offshore wind farms in Taiwan.

Richard Liu further pointed out that as the only local offshore wind farm developer in Taiwan, Taiya Renewable Energy fully supports the government's energy transition policy. In the past, it has introduced advanced international technologies and resources multiple times, acting as an important bridge for overseas investors entering Taiwan's renewable energy industry. The signing of this MoU once again demonstrates that Taiwanese companies have the capability to develop offshore wind farms and showcases the Taiwanese government's steady and gradual ambition to achieve renewable energy development.

Keng Lin Lee, Founding Chief Executive Officer, stated that choosing Taiya Renewable Energy as the primary partner for entering Taiwan is not only due to Taiya's international collaboration potential but also to deeply understand Taiwan's government policy direction through its rich experience and local advantages. Taiya Renewable Energy successfully acquired block development bidding in 2022, representing the only local developer with actual wind farm development projects. It is also expected to invest in floating wind farm demonstration projects and bid for wind farm development in the second phase of block development. Keng Lin Lee further expressed the hope that based on the memorandum of understanding, in addition to enhancing the capacity of work vessels for offshore wind farms in Taiwan, there is also the possibility of investing in key infrastructure for Taiwan's offshore wind power, such as establishing production bases for the supply chain. Lee Ching-Jen stated high expectations for collaboration with Taiya Renewable Energy to enhance the commercial value and competitiveness of both parties' industries and to make concrete contributions to Taiwan's goal of achieving net-zero carbon emissions by 2050.

About Taiya Renewable Energy:

Taiya Renewable Energy is a Taiwanese offshore wind farm developer with a development team composed of entirely local talent and funded domestically. Taiya possesses development advantages closely aligned with the Taiwanese market, including a precise understanding of government policy trends and support for the government's green energy and net-zero policies. Taiya Renewable Energy is skilled in license and permit management, maintaining relationships with government agencies, managing stakeholders from central to local communities, and controlling domestic and international supply chains. These provide a solid foundation for successful capacity allocation for project development. In the first phase of block development bidding in 2022, Taiya Renewable Energy won a capacity of 440MW and initiated preparations for bidding in 2023. Environmental impact assessment procedures have begun for the Penghu and Miaoli wind farms. The total planned installation capacity for wind farms is 4GW.

About Cyan Renewables:

Cyan Renewables is established by Seraya Partners, a Singaporean private equity fund. Headquartered in Singapore, Cyan Renewables is the first company in the Asia-Pacific region dedicated to providing offshore wind power vessels and management capacity. With 30 years of experience in operating maritime engineering vessels, the company is committed to creating sustainable long-term value. With a highly experienced team, Cyan Renewables accelerates the growth of the offshore wind power industry through professional wind power support vessels and fleets.