GS Entec Enters Offshore Wind Power Business... GS "Discovering Future New Growth Engines"

Strategic Partnership with World No.1 Offshore Wind Substructure Company 'Sif'
Asia's First Introduction of 'Monopile' Manufacturing Method

Netherlands Sif Offshore Wind Power Substructure

[Asia Economy Reporter Oh Hyung-gil] GS Entec, which has specialized in producing power generation equipment such as thermal power plants, is transforming into an eco-friendly equipment specialist company.

GS Group announced on the 31st that GS Entec, a subsidiary of GS Global, is entering the offshore wind power foundation structure business using the 'monopile' method.

The monopile method involves cylindrical structures made by welding large steel plates, serving as the foundation for offshore wind turbines. Compared to existing foundation methods such as floating or tripod types, the monopile method has a shorter production period and lower costs, making it preferred in the global market.

To introduce the monopile construction method, GS Entec signed a strategic partnership agreement on the 29th with the Netherlands-based company 'SiF (Sif Netherlands BV)', which holds the world's number one market share.

Both companies will target the domestic and Asian offshore wind power markets. Established in 1948, Sif has focused on manufacturing chemical equipment and shifted its business to align with the activation of the European offshore wind market, becoming the world's top company by market share.

Do Jeong-hae, CEO of GS Entec, said, "GS Entec, with its existing capabilities in manufacturing large chemical equipment, will leverage the strategic partnership with Sif, a leader in the offshore wind market, to target the Asian market through innovative monopile manufacturing methods."

Additionally, GS Group has strengths in the energy business and owns multiple power generation operators such as GS EPS, GS E&R, and GS Power. GS E&R, the chairman company of the Korea Wind Power Association, currently operates the Yeongyang Wind Power Complex. With GS Entec's entry into the offshore wind power business, expansion of the group's overall eco-friendly new business is expected.

GS Group is actively pursuing the discovery of new eco-friendly growth engines by planning to invest 10 trillion won in new businesses and ventures, including eco-friendly sectors, out of a total investment of 21 trillion won over the next five years.

GS Chairman Huh Tae-soo emphasized the creation of an eco-friendly management ecosystem, stating, "Pursuing environmental sustainability is a demand from society and customers. Especially when promoting new businesses alongside energy saving and efficiency in existing businesses, environmental sustainability must be the foremost consideration."

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