Signing of Business Agreement (MOU) for Supplying Domestic Equipment to Overseas Renewable Energy Projects
[Asia Economy Reporter Yoo Je-hoon] Posco International announced on the 18th that it signed a Memorandum of Understanding (MOU) for the supply of domestically produced equipment for overseas renewable energy projects with Korea Midland Power at its Songdo office in Yeonsu-gu, Incheon. The signing ceremony was attended by Ju Si-bo, President of Posco International, and Kim Ho-bin, President of Korea Midland Power, among others.
Korea Midland Power has recently designated renewable energy projects as a future growth engine and is actively expanding its business. Currently, it operates and develops renewable energy projects totaling over 1GW worldwide, mainly in the United States, Europe, and Australia, and aims to secure more than 3GW of operating assets by 2025.
Through this agreement, Posco International will supply key steel equipment, including solar trackers, for overseas renewable energy projects promoted by Korea Midland Power. Posco International is supplying PosMac, a high corrosion-resistant steel optimized for solar power facilities, to domestic and international solar projects as well as various projects using structural steel materials.
Additionally, Posco International plans to provide optimal product solutions to Korea Midland Power by conducting research and development (R&D) related to processing and construction through the Posco Solution Research Institute.
President Ju stated, "We hope to firmly establish our position in the overseas renewable energy market by leveraging Posco International’s global network and years of overseas business expertise along with Midland Power’s project development and operational capabilities," adding, "We look forward to combining the strengths of both companies to contribute to the globalization of the K-New Deal."
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