General counsel | Cyan Renewables
Chia Kangyu
General counsel | Cyan Renewables
What are the most significant cases or transactions that you have been involved in over the past year?
I have been actively involved in several deals and transactions at Cyan Renewables, which have been pivotal in building the company to become a leading services provider in the offshore renewable energy sector, and as a champion of the “blue-to-green” transition of the marine space.
Acquisition of MMA Offshore: In July this year, Cyan Renewables acquired MMA Offshore through a scheme of arrangement. This transaction, valued at A$1.1bn (US$702 m), marked the largest take-private deal in the offshore wind energy services industry in the Asia-Pacific region. MMA Offshore is headquartered in Perth, Australia, and operates 20 vessels and has more than 1,100 employees globally. This acquisition has significantly strengthened Cyan Renewables’ position as a leader in the offshore wind sector, enhancing our capabilities and market reach.
Awarding of 15-year SOV contract by Siemens Gamesa Renewable Energy in Taiwan: In February this year, Cyan Renewables was awarded a 15-year Service Operations Vessel (SOV) contract with Siemens Gamesa Renewable Energy, which will begin in 2026. The contract contemplates the construction of a purpose-built SOV equipped with state-of-the-art technology, such as Siemens’ BlueDrive PlusC propulsion system, for optimal energy efficiency while minimising its environmental footprint, and will be used to service 73 offshore wind turbines in Hai Long offshore wind farms, located about 50km off the coast of Changhua County in Taiwan. As one of the largest offshore wind farms in Taiwan with a total installed capacity of 1,044MW, the project is expected to power more than one million households.
In January this year, we acquired a 75% stake in Sentinel Marine, a leading UK-based maritime environmental response vessel operator. This strategic move has allowed us to expand our operations into the UK offshore wind and fisheries protection market, leveraging Sentinel Marine’s expertise in environmental protection and emergency response. Through the acquisition of Sentinel Marine, we have not only bolstered our fleet but also created synergies that support marine conservation efforts and the global energy transition.
These transactions underscore Cyan Renewables’ commitment to becoming a global leader in the renewable energy sector, particularly in offshore wind services. They also highlight our strategic focus on expanding our operational footprint and enhancing our service offerings to support the global transition to sustainable energy.
Based on your experience, what is the key to collaborating successfully with business partners?
I believe that having a keen commercial mindset is key to successful collaborations with business partners. A general counsel’s role should not be confined to only being a legal advisor to the company and protecting its legal interests, but also as a business leader within the company that is able to advance its commercial interests as well.
In the course of leading transactions, I have found that the best negotiation outcomes and satisfactory business relationships have always come when we as legal counsel are equipped with a strong business acumen and deep understanding of the company’s business. This then allows us to open and develop stronger working relationships with our business partners across the table to create mutually beneficial solutions.
We are now living in a changing geopolitical environment, with increased sanctions and export controls over the past two to three years. Does this affect your work, particularly regarding your risk management duties?
Absolutely, as an offshore vessel services provider operating in many international jurisdictions, sanctions, export controls and other regulatory/geopolitical developments are critical areas of compliance and monitoring to Cyan Renewables.
We have developed a robust compliance framework in place to monitor updates on sanctions and anti-money laundering updates in our areas of operation, and proper screening systems to ensure compliance and mitigate risks. We also often work closely with our legal advisers, particularly prior to any consideration of market expansion into new jurisdictions, in order to ensure that we are able to be in full compliance as a business.
How do you motivate and manage the other members of your legal team well?
Clear communication is key – all members of the legal team should always be able to approach each other openly to tackle challenges we face at work together as a team. To that end, I have always strived to have regular weekly catch-up sessions with my team, where they are able to share any topic they have in mind, whether personal or otherwise.
Once a strong team dynamic has been established, it is also important that the legal team is afforded the proper support and resources it needs to succeed. This includes opportunities for training and development, software systems, staffing resources and external legal support whenever required. In order to better do so, I take in feedback from the team openly, and where required, work with other members of the senior management to provide those resources.