Mooreast targets Taiwan's floating wind market with a new subsidiary

The company will fund the subsidiary internally.

SGX-listed Mooreast is establishing a subsidiary in Taiwan to expand mooring solutions to the floating renewable energy sector in Northeast Asia, focusing on the floating wind market.

Mooreast Taiwan has an issued and paid-up share capital of $10,400 (TWD250,000).

Moorest will collaborate with partners to offer engineering, procurement, construction and installation services for Taiwan's rapidly growing offshore wind market.

Mooreast funded the subsidiary internally. Its establishment will not materially impact Mooreast's FY24 financial performance.

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