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CYBERJAYA, Aug 2 (Bernama) -- Dagang NeXchange Berhad (“DNeX”), via its subsidiary Ping Petroleum UK PLC (“Ping”), has signed a Memorandum of Understanding (“MoU”) with Cerulean Winds Limited (“Cerulean Winds”) to kick start a partnership initiative in delivering a dedicated offshore floating wind turbine for the Avalon Development in the Central North Sea, United Kingdom (“UK”).
Under the Agreement, Ping and Cerulean Winds plan to establish a Joint Venture (“JV”) company to deploy and operate the floating wind turbine, which will power the Sevan Hummingbird Floating Production Storage and Offloading (“FPSO”) vessel acquired by Ping in early July this year. The signing of the MoU was held in London, United Kingdom and observed by Kwasi Kwarteng, Secretary of State for Business, Energy and Industrial Strategy, Government of UK.
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