Fugro Expands In Taiwan Offshore Wind Space with IOVTEC JV
Dutch offshore survey company Fugro is expanding in Taiwan's emerging offshore wind space with the formation of Fugro IOVTEC, a joint venture company with local player IOVTEC.
"Fugro has been actively supporting the renewables market in Taiwan since 2016 under a Memorandum of Understanding (MOU) with IOVTEC," Fugro said Tuesday.
It explained that the creation of Fugro IOVTEC formalized Fugro’s long-term presence in the country to optimize its renewables growth strategy.
The Fugro IOVTEC office will be established in the coming months and an in-country soils laboratory will be set up to service its renewables client base.
“IOVTEC has a wealth of experience in hydrographic and bathymetric surveys in Taiwan, and has been delivering offshore wind services since the country’s first milestone project in 2016,” explained Vincent Tsai, CEO of IOVTEC.
“In response to the government’s localization plan, IOVTEC developed a fleet of seven Taiwan-flagged vessels and an experienced team of local crew and surveyors. Combining IOVTEC’s local capabilities with Fugro’s global offshore wind experience creates the ideal solution for Taiwan’s rapidly developing offshore wind sector.”