Six offshore wind projects with a combined capacity of 6800 MW around the world will be covered under a contract between SK Oceanplant and Corio Generation.
Both businesses will be able to work together on offshore wind farm projects in and outside of South Korea, including the UK, Australia, Taiwan, and Busan, thanks to the memorandum of understanding.
According to the MoU, SK Oceanplant will produce and supply offshore substations and substructures, and Corio will be in charge of managing and growing the offshore wind industry.
By making the change, SK Oceanplant will be able to sell its offshore wind energy business internationally.
Corio, a portfolio firm of Green Investment Group (GIG), intends to expand its operations in South Korea and other nations, including its bottom-fixed offshore wind farm projects at Chungsapo and Dadaepo in Busan.
Seung-Chul Lee, CEO of SK oceanplant, said “SK oceanplant is transforming as a global offshore wind power operator as demonstrated by its acquisition of 51% of stake in an offshore wind farm project in Taiwan as well as its entry into the Japanese offshore wind market.”
“This partnership is expected to bring synergy to one of the fastest-growing markets in the world, the global offshore wind market. We are committed to working towards becoming a top-tier offshore specialist in the world by expanding our presence and making investments.”
Woojin Choi, Head of Korea at Corio Generation, added “Offshore wind power business is poised to provide enormous business opportunities for Korean companies that are the most competitive in the global shipbuilding, offshore plants, steel, and heavy industries.”
“Corio is committed to cooperate with not only SK oceanplant but many other Korean companies so that they can play more important roles in the global offshore wind power market.”
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