POSCO Partners with Denmark's Orsted to Launch Green Hydrogen Project

POSCO Participates in Steel Supply and Green Hydrogen Production
Constructs Structures and Manages Hydrogen Storage and Power Generation

Photo by POSCO

[Asia Economy Reporter Hwang Yoon-joo] POSCO Group is advancing offshore wind power generation and related green hydrogen projects in collaboration with Orsted, the world's largest offshore wind power company.

POSCO announced on the 26th that it signed a Memorandum of Understanding (MOU) with Denmark's Orsted, the world's number one offshore wind power company, for comprehensive cooperation on domestic offshore wind power and green hydrogen projects. POSCO and its group companies, including POSCO Engineering & Construction and POSCO Energy, will also participate in the collaboration.

Orsted is currently promoting the largest domestic 1.6GW-class Incheon offshore wind power project, with a project cost of 8 trillion KRW, scheduled to begin commercial operation after 2026. POSCO has supplied more than 100,000 tons of steel to Orsted's UK offshore wind power projects Hornsea 1 and 2, and has established steel supply partnerships for various global wind power projects.

Through this MOU, Orsted will develop offshore wind power projects and establish green hydrogen production facilities in Korea, while POSCO will supply steel materials necessary for constructing offshore wind power complexes and participate in green hydrogen production utilizing wind power. Additionally, POSCO Engineering & Construction will be responsible for constructing offshore wind structures, and POSCO Energy will handle green hydrogen storage and hydrogen power generation.

Jeon Jung-sun, Head of POSCO's Strategic Planning Division, said, "POSCO has selected the hydrogen business as a next-generation future growth industry and is striving to discover opportunities in the green hydrogen business. We expect that the business cooperation with Orsted will further accelerate the green hydrogen business."

Martin Newbert, Vice President and Chief Commercial Officer (CCO) of Orsted Group, said, "Through this MOU, Orsted and POSCO have strengthened their partnership not only in the steel business but also in other POSCO business sectors such as hydrogen."

Going forward, POSCO plans to jointly conduct research and feasibility studies on the Incheon offshore wind power and green hydrogen projects with Orsted, and through comprehensive cooperation, contribute to the domestic hydrogen energy transition and decarbonization realization.

This content was produced with the assistance of AI translation services.