Doosan Enerbility to supply offshore wind substructures to Orsted

South Korea’s leading power plant builder Doosan Enerbility Co. said on Thursday that its Vietnamese subsidiary has signed an agreement to provide offshore wind power turbine substructures to Ørsted A/S, Denmark’s state-run energy company.

Doosan Vina, the Vietnamese subsidiary supplying chemical engineering facilities and port cranes to around 30 countries, will manufacture monopile foundations for Ørsted’s wind power projects in Southeast Asia and Europe. Monopile foundations are hollow circular steel piles that anchor offshore wind turbines to the ocean floor.

The two companies didn’t disclose other details of the agreement.

The Danish power company is the world’s largest offshore wind power developer, making up around 26% of the global market. It is developing a 1.6 gigawatt (GW) offshore wind power project in Incheon with an aim to complete it by 2026, which will be the largest offshore wind power plant in Korea.

Doosan Enerbility, formerly Doosan Heavy Industries and Construction, has developed wind power plants since 2005. The Doosan Group affiliate is operating wind power facilities with a combined capacity of 247.5 megawatts (MW), as well as constructing 100 MW of wind power plants across Korea.

It posted 4 trillion won ($2.8 billion) in revenue and 314.6 billion won in operating profit during the third quarter, respective increases of 35.2% and 40.7% from the same period of 2021. The earnings growth was driven by global orders of engineering, procurement and construction (EPC).

Doosan Enerbility has signed three major deals with Saudi Arabia so far this year. It won a 1 trillion won order to build a steel casting plant in February, as well as an 840 billion won contract to construct a seawater desalination plant in August and a 540 billion won deal for a combined heat and power plant in September.   

The power plant builder has won orders worth 14.62 trillion won during the first three quarters of this year, securing projects for the next three years, a Doosan Enerbility official said.

Write to Ik-Hwan Kim at lovepen@hankyung.com
Jihyun Kim edited this article.