Singapore-based Marco Polo Marine has entered into a partnership with Namsung Shipping and HA Energy to jointly take forward synergistic offshore wind vessel operations in South Korea.
The companies have already signed a memorandum of understanding for the same.
South Korea is a chosen destination after the company’s successful expansion into Taiwan and Japan.
It has been reported that Namsung is a investor in the 1.5GW fixed-bottom Chujin offshore wind project. This consists of around 100 wind turbines.
Meanwhile, HA Energy is a Korean company with engineering, construction and commissioning services for various offshore platforms.
Marco Polo Marine chief executive Sean Lee was quoted in a statement, "The collaboration puts us in a great position to bring together our expertise in offshore wind vessels and tap into our local partners’ deep knowledge of the Korean market, so that we can support our wind clients’ expansion goals and propel the global push towards clean energy."
South Korea has some of the largest offshore wind projects. The capacity is targeted to grow from the current 12GW to 18-20GW by 2030
The country aims to achieve net zero carbon emissions by 2050, and for that has been increasing the installed capacity targets of renewables.