Hyundai Steel Partners with Hyundai Engineering & Construction to Expand Offshore Wind Power Steel Market

Joint Development Agreement Signed for Independent Floating Offshore Wind Power Model

Hyundai Steel is joining forces with Hyundai Engineering & Construction to enhance its competitiveness by expanding its presence in the steel materials market for offshore wind power.

Hyundai Steel announced on March 15 that it had signed a "Joint Development Agreement for an Independent Floating Offshore Wind Power Model" with Hyundai Engineering & Construction at the Hyundai Steel Training Center in Dangjin on March 13.

Cheoljong Jung, Head of Research and Development at Hyundai Steel (right), and Jaeyoung Kim, Head of Technology Research Institute at Hyundai Engineering & Construction, are taking a commemorative photo at the signing ceremony for the joint development of an independent floating offshore wind power model held on the 13th. Hyundai Steel

At the signing ceremony, the two companies agreed to jointly pursue the development of a proprietary hybrid floating platform model combining steel and concrete, as well as to obtain Approval in Principle (AIP) certification from DNV in Norway by 2027.

Floating offshore wind power is a method of power generation in which floating structures are placed on the sea surface without being fixed to the seabed. This allows installation in deep offshore waters, making it easier to build large-scale offshore wind farms. With its ability to harness abundant wind resources for high generation efficiency, floating offshore wind power is regarded as a central pillar for expanding the next-generation offshore wind market.

The hybrid floating platform to be jointly developed by the two companies will utilize Hyundai Steel's high-strength and highly corrosion-resistant steel materials, such as rebar and thick plates, which are specialized for marine environments, in combination with concrete. This approach offers the advantage of securing both durability and economic efficiency.

To strengthen its competitiveness in the next-generation offshore wind power market, Hyundai Steel has launched joint research that combines its advanced steel material technology with Hyundai Engineering & Construction's offshore construction capabilities. The company is also taking concrete steps toward commercialization, including filing joint patents related to the proprietary model.

Hyundai Steel, in particular, aims to obtain Approval in Principle (AIP) certification—a key requirement for the commercialization of floating platform projects—by 2027. The company plans to enhance project economics and expand profitability by securing leadership in steel supply.

A Hyundai Steel representative stated, "Through synergy with Hyundai Engineering & Construction, we will successfully develop the proprietary model and expand our market share in offshore wind power by leveraging our experience and technological expertise in supplying steel materials for offshore wind projects both domestically and internationally."

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