Nippon Yusen Kabushiki Kaisha (NYK) invested in IOVTEC Co., Ltd. (IOVTEC), a Taiwanese offshore wind integrated service company, through the subscription of newly issued stock shares, according to the company's release.
IOVTEC and its subsidiaries, collectively known as the IOG Group, offer comprehensive services for offshore wind projects in Taiwan and across Asia.
Their offerings encompass marine surveys, construction support, vessel chartering, management and repair, talent cultivation, and the operation and maintenance of offshore wind farms, covering the entire wind-farm life cycle from initial site investigation through construction and long-term operation.
Since 2014, IOVTEC has played a significant role in Taiwan’s offshore wind industry, a leading market in Asia.
NYK engages in offshore wind power projects by leveraging its expertise in ocean shipping and collaborations with overseas and local partners through initiatives such as crew transfer vessel (CTV) operations and a training center for offshore wind farm operators and seafarers.
Through this investment, NYK and IOVTEC aim to contribute to the development of Japan’s offshore wind power industry by utilizing their combined knowledge, experience, and networks. They also plan to strengthen their position in the Taiwanese market and expand offshore wind power-related projects in the Asia-Pacific region, including Taiwan.
Established in 1885, NYK is a Tokyo-based global logistics company specializing in various forms of marine transportation, including global logistics and bulk energy transport. The company operates one of the world's largest transportation networks, managing a diverse fleet of car carriers, container carriers, and energy carriers.
Founded in July 2013 and headquartered in Taipei, Taiwan, IOVTEC is an offshore wind integrated service company. Along with its subsidiaries, known as the IOG Group, IOVTEC provides a range of services for offshore wind projects, including marine surveys, construction support, vessel chartering, management and repair, talent cultivation, and the operation and maintenance of offshore wind farms.