Hanwha Ocean and Hyundai E&C Collaborate on Offshore Wind Projects in South Korea
Shipbuilding major Hanwha Ocean has partnered with compatriot Hyundai Engineering & Construction to strengthen South Korea’s offshore wind supply chain through joint EPC projects.
The collaboration between the two companies will kick off with the Shinan Ui offshore wind farm. Hanwha Ocean will be responsible for overseeing offshore installations, while Hyundai E&C will manage onshore construction. This division of roles is expected to create strong synergies and streamline project execution.
As part of the memorandum of understanding, Hanwha Ocean will focus on localizing key infrastructure by constructing its own wind turbine installation vessel (WTIV). The self-built WTIV will have the capacity to install 15MW offshore wind turbines at the Shinan Ui site by the first half of 2028.
The Shinan Ui offshore wind project, led by Hanwha Ocean, is set to secure financing and commence construction in October. Hyundai E&C will participate as a construction investor and co-contractor, solidifying their partnership in the renewable energy sector.
Currently, the two companies are jointly pursuing seven offshore wind projects and have agreed to deploy Hanwha Ocean’s WTIV in future domestic offshore wind ventures, showcasing their commitment to sustainable energy development in South Korea.