Some research via Yinson Holdings’ website gave the following information.
Based in Malaysia, Yinson started out in 1984 as a transport and logistics company.
In 2010, they expanded their service to cover marine transport and in 2011 they got into the gas and oil industry, forming a consortium with PetroVietnam Technical Services Corporation.
The website ‘about us’ states that the joint venture was awarded a contract for the charter of a floating, storage and offloading vessel and they went on to win a contract for the charter of a floating, production, storage and offloading vessel (FPSO).
In 2014, operations were expanded again with the acquisition of a Norwegian company and Yinson has since grown to become one of the largest independent FPSO leasing companies globally.
The multinational lists 18 countries on its website where offices are located.
The website states that by mid-2016, Yinson had divested its non-oil and gas businesses.
In 2019, they diversified into renewables.
Yinson Holdings has five business arms: Yinson Production, Yinson Renewables, Yinson Greentech, Farosson and Regulus Offshore and the project is under Yinson Renewables.
The Bush Telegraph asked Yinson Renewables New Zealand representative Trevor Nash about the move into renewables, given its earlier venture into oil and gas.
Trevor says Yinson is embracing the energy transition, investing in green technologies and more sustainable energy sources.
“It has seized the opportunity to adapt and participate in this global shift to a more sustainable future by making this a core part of the company’s strategy.”
He says the company aims to be carbon-neutral by 2030 and net-zero by 2050.
Yinson’s strategy is directing efforts towards seven of the United Nations’ Sustainable Development Goals, to create a positive impact on the development and wellbeing of communities as well as protecting the environment.
“This journey has led Yinson to pioneer, innovate and forge new community partnerships around the world.”
Trevor says its commitment to its partnerships, openness and adaptability and creating positive long-term outcomes has seen it win numerous sustainability and social awards.
But what does this mean for New Zealand?
Trevor says the company is investing in New Zealand and in local infrastructure for local communities, building local economies.
He says they believe wind farms can offer a range of economic, employment, cultural, social and environmental benefits, both locally and nationally, while supporting the country to meet climate targets.
The company’s strategy is long-term, committing to see the sustained value.
Any profits made from the proposed wind farm, should it go ahead, would go back into the global business, funding different renewable projects both in New Zealand and around the world.
At this point, the wind farm is still awaiting a decision on the fast-track consenting process and the resource consent application is still being prepared.
It is likely to be several months before the consent is lodged and another few months before a decision is made.
If the consent is approved, market conditions would need to be favourable for construction to get under way.
Leanne Warr has been editor of the Bush Telegraph since May 2023 and a journalist since 1996. She re-joined NZME in June 2021.
