GE Renewable Energy and Hyundai Electric & Energy Systems plan to establish a strategic industrial partnership to support the growth of offshore wind energy in South Korea.
The two companies signed a memorandum of understanding (MoU) on Wednesday, February 16 to form the strategic offshore wind partnership in South Korea.
South Korea has set a goal of expanding its offshore wind capacity to up to 12 GW by 2030 and achieving 30 percent renewable energy in the power generation mix by the end of the decade.
“The companies’ strengths are complementary and both will bring our unique expertise to support the development and installation of the 12GW of offshore wind power expected to be built in South Korea by 2030,” Jan KjarsgaardCEO of Offshore Wind at GE Renewable Energy, said in a social media post.
Kjaersgaard added that GE Renewable Energy will bring its offshore know-how and Haliade X wind turbine technology into the mix, while Hyundai Electric will bring its local know-how and electrical equipment.
“GE and Hyundai Electric & Energy Systems Co.,Ltd. will intensify work to prepare and execute our industry plan and we look forward to sharing further details on next steps from an industry perspective in line with customer commitments later in 2022. This first step signals our shared and strong commitment to scale-up of offshore wind power in South Korea”, added Kjaersgaard.
The MoU contains initial plans for the Construction of a nacelle assembly factory for Haliade-X turbines in South Korea, with a detailed industrial development schedule “Customer order volume and timing of their specific projects”said Kjaersgaard.
“South Korea has a bright future ahead for offshore wind energy and we are pleased to sign a Memorandum of Understanding with Hyundai Electric & Energy Systems Co., Ltd. to find ways to build an efficient supply chain for our Haliade-X.” GE Renewable Energy said in a social media post.
“One of the keys to success in further building the offshore wind industry is collaboration between key industrial players with complementary skills.”
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