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SUCCESS CASE
How a Renewable Energy Player Secured Close to S$1M for Offshore Wind M&A
RIC helped a leading renewable energy player secure EDG support for a strategic acquisition of an offshore wind vessel operator.
CATEGORY
Strategy and Consulting
CLIENT TYPE
Renewable energy / offshore wind marine infrastructure
GRANT TYPE
Enterprise Development Grant support
FUNDING SECURED
Close to S$1M
About the Client and Project
Client Profile
The client is a leading renewable energy player in Asia, with operations spanning Singapore, Taiwan, Korea, the UK, Denmark, and Europe. It supports renewable energy projects, environmental protection initiatives, low-carbon infrastructure, offshore wind farm development, marine environmental conservation, and emerging hydrogen and carbon capture sectors. The company had over 1,800 employees across seven global locations and was scaling through strategic acquisitions and international expansion.
Project Nature
The project involved the strategic acquisition of an established offshore wind vessel operator to accelerate the client’s global expansion. The acquisition was intended to expand the client’s specialised vessel fleet, strengthen offshore wind project delivery capabilities, deepen access to Australia and APAC markets, and add subsea engineering capabilities. The project required coordinated due diligence, legal structuring, valuation analysis, market strategy, synergy assessment, and transaction-related professional advisory support.
Funding Objective and Challenge
Funding Objective
The funding objective was to support qualifying professional fees under the Enterprise Development Grant for a strategic M&A project. The grant helped defray costs related to financial due diligence, legal advisory, valuation, market analysis, transaction structuring, and project documentation. The project was intended to support the client’s global expansion, strengthen its offshore wind infrastructure capabilities, and build a stronger Singapore-linked platform for renewable marine infrastructure growth.
The Challenge
The client was scaling rapidly across renewable energy, offshore wind, low-carbon infrastructure, and marine environmental projects, with operations spanning Singapore, Taiwan, Korea, the UK, Denmark, and broader Europe. To strengthen its position in global offshore wind services, the client needed to execute a high-stakes acquisition of an established offshore wind vessel operator. The challenge was to frame the acquisition as a strategic capability-building and internationalisation project, not just a corporate transaction. The grant case needed to show how the acquisition would expand the client’s fleet, strengthen offshore wind service delivery, deepen regional and global market access, and contribute to Singapore’s renewable energy ecosystem.
How RIC Supported the Client
RIC supported the client in securing EDG support for the strategic acquisition project.
RIC’s support included:
• Coordinating due diligence support through financial advisors to assess the target’s financial health, operational capacity, and risk profile.
• Working with international legal counsel on acquisition structure, cross-border financing considerations, and regulatory compliance.
• Supporting valuation and market strategy work, including financial modelling, comparative market analysis, acquisition pricing logic, and synergy projections.
• Preparing the EDG grant proposal around the strategic rationale, market growth potential, and economic impact of the acquisition.
• Structuring the grant case around capability expansion, offshore wind market positioning, and Singapore ecosystem value.
• Managing post-award documentation, milestone tracking, claims preparation, and reimbursement support.
RIC’s role was to connect M&A strategy, professional advisory costs, global expansion logic, and grant requirements into a fundable EDG project.
Outcome
FUNDING SECURED
Close to S$1M
The client secured close to S$1 million in EDG support, covering up to 30% of qualifying professional fees for the acquisition project. The acquisition positioned the client among the top five global offshore wind vessel operators, expanded its fleet to 32 specialised vessels, scaled its workforce to 1,650 employees, strengthened full-cycle offshore wind support capabilities from site development to long-term maintenance, deepened its Australia and APAC presence, and added subsea engineering capabilities to its offshore wind value chain.
What This Means for Similar Companies
For companies pursuing acquisitions, EDG support may be relevant when the transaction clearly supports strategic transformation, capability development, and overseas growth. A fundable M&A case needs more than a purchase rationale. It must explain how the acquisition changes the company’s market position, capabilities, revenue pathway, operational footprint, and Singapore economic value. This case shows how grant support can help defray professional advisory costs when M&A is used as a serious growth and internationalisation strategy.
