What's Happening?
KESTO, a joint venture between Denmark's ESVAGT and South Korea's KMC Line, has secured a long-term contract to provide offshore service logistics for Vestas at the Shinan-Ui offshore wind farm in South Korea. The contract, starting in 2028, will last
for at least 10 years and involves the construction of two crew transfer vessels to support the wind farm's operations. This partnership highlights the growing collaboration between international companies in the renewable energy sector.
Why It's Important?
This deal underscores the increasing importance of international partnerships in advancing renewable energy projects. By securing a long-term contract, KESTO is positioned to play a crucial role in supporting South Korea's renewable energy goals. The project will contribute to the country's energy transition and provide electricity to approximately 350,000 households. The collaboration also emphasizes the strategic importance of developing local supply chains and training programs to support the renewable energy industry.
