HD Hyundai joins $14 mn offshore wind power project

HD Hyundai Electric Co., the electrical equipment and energy solution company under South Korea’s shipbuilding giant HD Hyundai Co., has joined a consortium for construction of an offshore wind power complex off the country’s southwestern coast.

At HD Hyundai Global R&D Center in Seongnam, Gyeonggi Province, the company on Monday signed a memorandum of understanding on joint development of the green energy complex in Jindo County, South Jeolla Province, with Pacifico Energy Korea, CS Wind Corp., Korea Ocean Engineering & Consultants, and Daebul Shipbuilding.

With a budget of 19 trillion won ($14 million), the project seeks to build a three-section wind power facility of 3.2 gigawatts off Jindo’s coast for power supply to three million households.

“We will contribute to (South) Korea meeting its carbon neutrality goal by successfully pursuing development of the large offshore wind power complex,” an HD Hyundai Electric source said. “We will bolster our capacity to promote domestic ventures in offshore wind power and form a supply chain.”

Write to Mi-Sun Kang at misunny@hankyung.com