Mooreast Holdings (Mooreast) has announced that its wholly-owned subsidiary, Mooreast Asia, intends to acquire a 98,919 sqm facility from a subsidiary of Seatrium Limited in Singapore to serve the fast-growing floating offshore renewable sector.
Mooreast says it expects to complete the proposed acquisition and commence operations at the new facility by the end of 2024. The facility adjoins Mooreast’s current 30,691 sqm (approx. 323,000 sqft) yard. The enlarged facility will increase its production capacity fourfold and will enable Mooreast to produce enough subsea foundations to support between 1.5 GW to 2 GW of floating offshore wind energy per annum, an increase from 0.5 GW currently. The new facility will be used to fabricate subsea foundations and serve as a logistics hub to handle holding, staging, and assembly of equipment and blocks.
