The global offshore wind farm industry is worth USD 33.5 billion today [1] and is expected to grow by eleven times (11x) from 36 GW of installed capacity in 2020 to 386 GW by 2035. Cyan targets this fast-growing offshore wind farm market where there is chronic shortage of specialized vessels to support the installation and long-term operations & maintenance of offshore wind farms. Cyan aims to own and operate US$1 billion portfolio of vessels over the next 5 years.

“Offshore wind farms form the backbone of energy transition reducing our dependency on fossil fuels. Asia is starting to develop offshore wind farms and there’s a clear value proposition that Cyan can deliver to end users. We are fully committed to growing Cyan into the world’s first pureplay offshore wind farm vessel operator,” James Chern, Chairman and Managing Partner of Seraya Partners, commented.