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Construction of a turbine installation vessel financed

CSSC puts its money on wind power

by Port News Editorial Staff

China State Shipbuilding Corp Ltd (CSSC) is putting its money on wind power development, so much so that it has decided to finance, through its own leasing companies and those of state giant CGN, the construction of a vessel for installing state-of-the-art wind turbines.

The ship will be built by CSSC’s Guangzhou Shipyard International at a cost of 98 million dollars. CGN will pay 70% of the total amount while CSSC will see to the rest of the funding.

The vessel is due to be delivered in September 2023. It will then be chartered to Summer Bihai for 78 months.

Translation by Giles Foster

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