Strategic Cooperation Agreement

This marks the first significant agreement in offshore wind between a Scottish company and a major state-owned Chinese enterprise. The COSCO Group is one of the major multinational enterprises in the world; China’s largest and the world’s leading group specializing in global shipping, modern logistics and ship building and repairing.

The agreement is expected to lead to a definitive agreement to develop and market turbine jacket substructures, towers and access systems for offshore wind farms. The companies will now work together over the coming months to develop a detailed business plan and commercial framework which will form the basis of their ongoing relationship.

Both companies believe that combining their expertise and resources will allow them to benefit jointly from the opportunities in the offshore wind industry as it develops across the world.