HD Hyundai Electric to Jointly Develop Jindo-gun Offshore Wind Power Complex

MOU for Offshore Wind Power Project with Pacifico Energy and CS Wind, etc.

HD Hyundai Electric, a power equipment and energy solutions subsidiary of HD Hyundai, is accelerating its efforts to capture the domestic offshore wind power plant development market.

On the 30th, HD Hyundai Electric announced that it signed a Memorandum of Understanding (MOU) for the joint development of the Jindo offshore wind power project with Pacifico Energy Korea (hereinafter Pacifico), CS Wind, Korea Ocean Technology, and Daebul Shipbuilding at the HD Hyundai Global R&D Center located in Seongnam, Gyeonggi Province.

This project involves constructing an offshore wind power plant with a capacity of 3.2 GW (gigawatts) consisting of three complexes off the coast of Jindo County, Jeollanam-do. This capacity is enough to supply electricity to 3 million households, with a total project cost of 19 trillion KRW.

According to the MOU, HD Hyundai Electric will be responsible for manufacturing and supplying key components of wind turbines and power equipment for offshore substations.

Pacifico, a global renewable energy investment and development company, will handle equity investment and overall project development. CS Wind will supply towers and substructures for offshore wind turbines, Korea Ocean Technology will be responsible for subsea cable installation and aftercare, and Daebul Shipbuilding will manage wind turbine maintenance and inspection services, as well as the construction and repair of maintenance vessels.

The government is actively promoting offshore wind power projects to achieve carbon neutrality by 2050. Earlier in January, through the 10th Basic Plan for Electricity Supply and Demand, it announced plans to expand domestic offshore wind power capacity to 26.7 GW by 2036.

An HD Hyundai Electric official stated, “We will contribute to achieving carbon neutrality in Korea by successfully establishing large-scale offshore wind power development projects,” adding, “We will work closely with our partners to strengthen domestic offshore wind project capabilities and build supply chains.”

Meanwhile, HD Hyundai Electric established a strategic partnership with GE Vernova Offshore Wind Korea in December last year to enter the offshore wind power business. Building on this, last month, it signed a business agreement to cooperate on the offshore wind power plant development project promoted by Jeonbuk Province and Gunsan City, actively expanding its domestic offshore wind power-related business.

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