NatPower Marine, Wah Kwong set up JV to build Asian shore power network

NatPower Marine, an independent clean energy enabler for the maritime sector, and Hong Kong-based shipowner Wah Kwonghave launched a joint venture (JV) aimed at building and operating a dedicated network of electric shore power across ‘major’ ports in Asia.

As disclosed, the joint venture will go under the name of Wah Kwong NatPower Holdings. The JV is envisaged to operate under a Charge Point Operator (CPO) model, in which case Wah Kwong NatPower Holdings will fully fund, build and manage the infrastructure, without the need for upfront investment from port authorities.

It will reportedly set out to develop grid-connected infrastructure in ‘key’ locations in Hong Kong. However, the partners said there are plans underway to strike partnerships in Greater China as well as to build infrastructure across North Asian markets.

According to NatPower Marine, by ensuring vessels can switch off fossil fuel-dependent auxiliary engines and connect to shore-based power at berth to charge batteries for near-shore propulsion via low-emission electricity, the bipartite initiative will endeavor to ‘positively contribute’ to maritime decarbonization efforts in the specified regions.

As informed, the JV will launch its inaugural projects next year,