Jungbu Power and POSCO International Sign MOU for Supplying Domestic Equipment in Overseas Renewable Energy Projects
Kim Ho-bin, President of Korea Midland Power (right), and Ju Si-bo, President of POSCO International, signed a memorandum of understanding (MOU) on the 18th regarding the supply of domestically produced equipment for overseas renewable energy projects and are taking a commemorative photo.
View original image[Sejong=Asia Economy Reporter Joo Sang-don] Posco International has agreed to supply domestically produced equipment for overseas renewable energy projects promoted by Korea Midland Power.
Midland Power announced on the 18th that it signed a memorandum of understanding (MOU) containing this agreement at Posco International's headquarters.
According to this agreement, from the early stages of renewable energy projects promoted by Midland Power, they will strategically provide steel equipment, solar tracking devices (trackers) manufactured by domestic partner companies, and related technical support in cooperation with Posco International.
A Midland Power official said, "We plan to establish a competitive cooperation model in the rapidly growing global renewable energy market, laying the foundation for the domestic renewable energy value chain to enter overseas renewable markets and contributing to the globalization of the K-New Deal through a virtuous cycle structure that creates domestic jobs."
Posco International supplies PosMAC, a highly corrosion-resistant steel optimized for solar power facilities that is resistant to moisture and dust, to domestic and overseas solar projects as well as various projects using steel materials. Additionally, through research and development (R&D) related to processing and construction, they plan to provide Midland Power with optimal product solutions.
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Kim Ho-bin, CEO of Midland Power, said, "This agreement signifies the establishment of a concrete cooperation model in which small and medium-sized partner companies centered on Posco International jointly enter overseas markets through Midland Power's overseas renewable energy projects. We hope this will be an opportunity to expand the partnership based on Midland's project development and operational capabilities and Posco International's global network and equipment supply capabilities."
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