GE Renewable Energy and Hyundai Electric join hands for South Korean offshore wind market

GE Renewable Energy and Hyundai Electric have entered into a partnership to work in South Korean offshore wind market. The duo announced that they signed a strategic partnership agreement to work together in offshore wind market. It comes at a time when South Korea aims to bring online 12 GW of offshore wind energy by 2030. Hyundai Electric will work to build factory and invest to produce Haliade-X turbines and generators, while GE will bring its offshore expertise and the Haliade-X technology. Under the latest agreement, the duo plans for the establishment of a factory in South Korea for producing the nacelles and the generators used in Haliade X turbines. Fabrice Kermorgant, Chief Commercial Officer GE Offshore Wind, was quoted, “This agreement will enhance our ability to serve local customers, create significant local economic benefits, and establish a local supply chain ideally suited to serve the growing offshore wind market in South Korea and potentially beyond in APAC.” Meanwhile, Seok Cho, president and CEO of Hyundai Electric said, “We will actively go into the domestic offshore wind market, and we will do our best to support our government to achieve 2030 Nationally Determined Contributions.”