The Client |
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The client is a top-tier offshore wind vessel operator based in Singapore, offering specialised maritime support solutions for offshore wind projects worldwide. Their fleet includes Service Operation Vessels (SOVs), Wind Turbine Installation Vessels (WTIVs), and Cable-Lay Vessels (CLVs), tailored for complex operations in the global renewables sector.
With a growing presence in Europe, Taiwan, and Australia, the client has emerged as a key enabler of offshore wind energy development. Their long-term ambition includes achieving net-zero emissions by 2050 and driving innovation in sustainable vessel design and clean energy integration.
As the company expands into new markets such as South Korea, India, and Brazil, it aims to enhance global tax efficiency and establish a best-in-class sustainability reporting framework—supporting regulatory compliance, investor engagement, and operational scale.
With a growing presence in Europe, Taiwan, and Australia, the client has emerged as a key enabler of offshore wind energy development. Their long-term ambition includes achieving net-zero emissions by 2050 and driving innovation in sustainable vessel design and clean energy integration.
As the company expands into new markets such as South Korea, India, and Brazil, it aims to enhance global tax efficiency and establish a best-in-class sustainability reporting framework—supporting regulatory compliance, investor engagement, and operational scale.
How RIC Helped |
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Grant Secured:
Real Inbound Consulting (RIC) supported the client in securing an Enterprise Development Grant (EDG) from Enterprise Singapore. The awarded project, valued at close to SG$476,000, received up to 50% co-funding with the approved grant amount of almost S$238,000. The grant supported strategic consulting by one of the global Big Four accounting firms to implement a global tax plan and a sustainability framework aligned with international ESG reporting standards.
Scope of RIC’s Consulting and Advisory Services:
RIC led the design and execution of a dual-focus strategic project involving both financial structuring and ESG planning:
Real Inbound Consulting (RIC) supported the client in securing an Enterprise Development Grant (EDG) from Enterprise Singapore. The awarded project, valued at close to SG$476,000, received up to 50% co-funding with the approved grant amount of almost S$238,000. The grant supported strategic consulting by one of the global Big Four accounting firms to implement a global tax plan and a sustainability framework aligned with international ESG reporting standards.
Scope of RIC’s Consulting and Advisory Services:
RIC led the design and execution of a dual-focus strategic project involving both financial structuring and ESG planning:
- Global Tax Strategy Advisory
- Advised on tax optimisation structures across jurisdictions, including transfer pricing, indirect tax compliance, and utilisation of clean energy tax incentives for improved operational efficiency.
- Sustainability Framework Design
- Developed a tailored ESG roadmap aligned with international standards such as GRESB and AASB S2, ensuring measurable and reportable sustainability performance across fleet operations.
- Compliance and Risk Management
- Identified key tax and ESG compliance risks for cross-border operations and implemented frameworks to manage regulatory exposure across multiple markets.
- Vendor Engagement and Project Coordination
- Collaborated with domain experts in tax, finance, and ESG reporting to deliver a cohesive and actionable strategy for global expansion.
- Grant Documentation and Execution Support
- Led the development of a compelling grant proposal, supported budgeting, milestone tracking, and audit preparation to ensure smooth claim submission.
Outcomes |
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- SG$1.2 million in annual tax savings achieved through structured tax planning, transfer pricing optimisation, and utilisation of renewable energy incentives.
- Full integration of ESG reporting practices, enhancing transparency with investors and clients while aligning operations with global sustainability standards.
- Reduced regulatory and financial risks, ensuring tax compliance across all current and future jurisdictions of operation.
- Stronger foundation for expansion into new markets including South Korea, India, and Brazil with scalable, compliant structures in place.
- Enhanced investor appeal and brand reputation, positioning the client as a sustainability leader in the offshore wind sector.
This case illustrates how RIC partnered with a rapidly growing maritime operator to deliver tangible business value through integrated tax and ESG strategy. By securing grant support and providing executional oversight, RIC helped the client unlock new markets while enhancing efficiency, compliance, and investor confidence.
With these frameworks in place, the client is well-positioned for sustained international growth and long-term leadership in the offshore renewables industry.