Fugro, IOVTEC set up joint company to serve Taiwan’s offshore wind market
- Business & Finance
Fugro and International Ocean Vessel Technical Consultant (IOVTEC) have established a joint business entity in Taiwan. The move follows the companies’ cooperation in the offshore wind sector in Taiwan over the last few years.
Fugro and IOVTEC have been serving Taiwan’s emerging offshore wind market under a Memorandum of Understanding (MOU) to work together on marine survey projects.
The creation of Fugro IOVTEC will support the ongoing business expansion in Taiwan, according to Fugro.
“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”, said Vincent Tsai, CEO of IOVTEC.
In the coming months, the companies will establish the Fugro IOVTEC office, as well as a local soils laboratory.
“In response to government’s localisation 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”, Tsai said.