• Ocean Winds and Hyundai Steel have signed a Memorandum of Understanding (MOU) to cooperate on the Hanbando offshore wind project in Inchon, Korea.
• Under this partnership, Ocean Winds and Hyundai Steel will explore various ways to develop a suitable domestic supply chain for offshore wind projects in Korea, maintain a long-term cooperation, and ensure the stability of the offshore wind supply chain.
November 28, 2024. Ocean Winds (OW), an international company dedicated to offshore wind energy and created as a 50-50 joint venture in 2020 by EDP Renewables and ENGIE, announced that it has signed a Memorandum of Understanding (MoU) with Hyundai Steel, a steel manufacturing company headquartered in Incheon, to cooperate on the proposed Hanbando offshore wind project in Incheon area.
The signing ceremony, held at the Songdo Convensia in Incheon, was attended by Guzmán Figar, Country Manager for Ocean Winds in Korea, Hu Gon Kim, Vice President of Steel Plate Sales Group for Hyundai Steel, Alex Choi, Head of Business Development for the Hanbando Offshore Wind, and other key executives from both companies.
Under this partnership, Ocean Winds and Hyundai Steel will explore various ways to develop a suitable domestic supply chain for the Hanbando Offshore Wind project, maintain a long-term cooperation, and ensure the stability of the offshore wind supply chain. Both companies are committed to creating synergistic effects and fostering mutual growth. With their active presence in Incheon, they are poised to make significant contributions to the sustainable development of the local community and its economic revitalization.
Ocean Winds is an international company dedicated to offshore wind energy and created as a joint venture, owned by EDP Renewables and ENGIE. The company is currently working on 16 offshore wind projects in eight countries around the world, including France, the U.S., Belgium, and the UK. Through its WindFloat Atlantic offshore wind farm in Portugal, Ocean Winds has demonstrated the commercial viability and profitability of floating offshore wind technology. In South Korea, the company is developing floating offshore wind power projects with a combined capacity of approximately 1,125 MW off the coast of Ulsan, under the KF Wind 1, 2 and East Blue Power (EBP) projects, in partnership with Mainstream Renewable Power
Hyundai Steel has earned global recognition for its competitiveness in the offshore wind sector, having received certification from the Norwegian Classification Society (DNV) for its “Renewable Energy Offshore Wind Plant Certification.” The company has supplied tubular steel for the foundations of Korea’s largest offshore wind farm, the Jeju Hallim Offshore Wind Farm, and has been awarded contracts for the Taiwan TPC offshore wind project, among other major initiatives.
Guzman Figar, Ocean Winds’ Country Manager for Korea, stated, “This MOU with Hyundai Steel represents a significant turning point for the offshore wind industry in the Incheon region. Ocean Winds is committed to driving the development of local supply chains, fostering industry integration, creating jobs, and promoting sustainable growth and collaboration with the community.”
Hu Gon Kim, Vice President of Steel Plate Sales Group for Hyundai Steel, who signed the agreement on behalf of the company, stated, “Hyundai Steel recognizes the significant growth potential of the offshore wind sector and is excited to actively pursue market opportunities. Through this partnership, we look forward to working together to establish a stable and efficient supply chain for the offshore wind industry, creating mutual benefits for the local community and making a meaningful contribution to the economic development of Incheon.”
