Denmark's Vestas and Portugal's Galp Meeting
Discussing Cooperation for Green Energy Transition
Strengthening Partnerships in Offshore Wind, Hydrogen, and SMR
Choi Tae-won, Chairman of SK Group, who visited three European countries including Spain as a special presidential envoy, met with eco-friendly energy companies to discuss business cooperation plans.
On the 2nd (local time), Chairman Choi met with Henrik Andersen, CEO of Vestas, the world's No. 1 wind turbine manufacturer based in Denmark.
Chairman Chey Tae-won of SK Group (right) met with Henrik Andersen, CEO of Vestas, the world's No. 1 wind turbine manufacturer, in Copenhagen, Denmark, on the 2nd (local time) to discuss business cooperation plans.
Chairman Choi proposed expanding cooperation with Vestas, which has competitiveness in the offshore wind power sector, and suggested entering Southeast Asia such as Vietnam with Korea as a hub. He also proposed strengthening partnerships in various fields including not only offshore wind power but also green hydrogen development and sales through water electrolysis technology.
Henrik Andersen, CEO, responded, "Korea is the optimal country as a business hub in the rapidly growing Asia-Pacific region," adding, "We hope to advance cooperation with SK in the offshore wind power sector and expand collaboration in new areas such as green hydrogen development and eco-friendly electric vehicle charging facilities based on green electricity."
Vestas announced at the Davos Forum last January its investment of $300 million in a wind turbine production plant in Korea and the relocation of its Asia-Pacific regional headquarters to Korea.
Following this, on the same day, Chairman Choi met with Jakob Poulsen, CEO of Copenhagen Infrastructure Partners (CIP), the world's largest green energy investment management firm, to discuss cooperation plans across eco-friendly energy sectors including offshore wind power, energy storage systems (ESS), hydrogen, and small modular reactors (SMR).
Chairman Choi suggested to CIP that in-depth discussions are needed on stable hydrogen production and overseas export plans beyond offshore wind power. In response, CIP expressed strong willingness to expand cooperation with SK and showed interest in joint investment and development in areas such as the joint development of the offshore wind power complex in Sinan, Jeonnam, floating offshore wind power, and green hydrogen development.
Additionally, CIP introduced the artificial island project, a hybrid new renewable energy facility being promoted with the Danish government in the North Sea, and proposed cooperation with SK and Korea.
CIP established CIP Korea in 2018 and is currently conducting fixed and floating offshore wind power generation projects in Jeonnam and Ulsan regions. In 2020, CIP and SK E&S established a joint venture, Jeonnam Offshore Wind Power, and obtained a permit for a 900MW offshore wind power project in the Sinan County waters, planning to start the 'Jeonnam 1' project soon.
Chairman Chey Tae-won of SK Group (right) met with Jakob Poulsen, CEO of CIP, the world's largest green energy investment management company, in Copenhagen, Denmark, on the 2nd (local time) to discuss cooperation plans for eco-friendly energy.
On the 3rd, Chairman Choi held a meeting with Filipe Silva, CEO of Galp, a comprehensive energy company in Portugal.
Chairman Choi said, "Galp's transition to the renewable energy sector is similar to SK Group," and proposed discovering cooperation opportunities across renewable energy and circular economy sectors such as batteries, hydrogen, and SMR. The two parties discussed ways to continuously expand cooperation in offshore wind power, lithium refining, biofuel development, and electric vehicle charging facilities.
An SK official stated, "With the highest-level meeting between the largest energy companies of Korea and Portugal, a momentum was created to lead energy transition and green growth visions of both countries at the private sector level and to broaden economic cooperation."
On the 1st, during his visit to Spain, Chairman Choi met with Reyes Maroto, Minister of Industry, Trade and Tourism of Spain, to exchange views on ways to enhance economic cooperation between the two countries. Chairman Choi introduced the case of 'Ilbok,' a joint venture producing premium lubricants that has achieved successful business results through long-standing trust with Repsol, Spain's largest energy company, and proposed active mutual investment and personnel exchange expansion between the two countries.
An SK official said, "With a business leader serving as a special envoy, concrete economic cooperation discussions with Europe were led, leveraging support for Expo hosting," and added, "We will continue to pioneer the global market through ESG (environment, social, governance) and other channels."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
