A Singapore fund manager has launched a pure-play offshore wind farm vessel company aiming to invest $1bn in new vessels within three years.

The company, Cyan Renewables, is backed by Singapore-headquartered Seraya Partners, which describes itself as an independent investment management firm investing in Asia’s next generation infrastructure.

Cyan said it plans to invest in a dedicated fleet of wind farm support vessels that include cable-lay vessels (CLV), service operation vessels (SOV) as well as wind turbine installation vessels (WTIV).