Daewoo Shipbuilding & Marine Engineering and Korea Hydro & Nuclear Power Technology Jointly Develop Offshore Wind Power Substation Equipment

[Asia Economy Reporter Hwang Yoon-joo] Daewoo Shipbuilding & Marine Engineering (DSME) is joining forces with Korea Electric Power Technology Corporation (KEPCO E&C) to pioneer the offshore wind power market.

On the 20th, DSME announced that it signed a memorandum of understanding (MOU) with KEPCO E&C for technology development, business planning, and discovery aimed at entering the offshore wind power substation (OSS) market. The signing ceremony was attended by about 10 representatives from both companies, including DSME Executive Vice President and Head of Technology Division Woo Je-hyuk and KEPCO E&C Executive Vice President and Head of New Energy Business Division Kim Dong-gyu.

OSS is a key offshore wind power facility that steps up the voltage of electricity generated at offshore wind farms to match grid voltage and transmits it to the land. Offshore wind power, along with liquefied natural gas (LNG), is gaining attention as a next-generation clean energy source, and research and development in this field are actively underway worldwide. The government has also expressed its ambition to become one of the world's top five offshore wind power nations by 2030 as part of its Green New Deal policy.

Through this collaboration, the two companies plan to jointly research and develop offshore wind power substations and expand into overseas business sectors in the future. They will also jointly develop floating offshore wind power substations that can be installed not only on land or nearby waters but also in distant and deep seas. In particular, DSME will lead the joint research based on its core competencies in comprehensive offshore facility design and production technology. KEPCO E&C’s expertise in electrical equipment design and construction technology will complement this effort, promising highly refined outcomes.

Woo Je-hyuk, Executive Vice President and Head of Technology Division at DSME, said, "This collaboration is an opportunity to fully leverage the technological competitiveness our company has built up over time. We believe that combining the core strengths of both companies will create synergy in the offshore wind power facility market."

Kim Dong-gyu, Executive Vice President and Head of Energy Business Division at KEPCO E&C, also expressed expectations, saying, "Through the development of offshore wind power substations, we will be able to further expand our business areas."

Meanwhile, KEPCO E&C is a leading company in the domestic power generation sector, driving various energy and plant-related power generation projects.

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