Daewoo E&C Signs MOU with SK Ecoplant for Offshore Wind Power Project

Daewoo E&C and SK Ecoplant signed a "Memorandum of Understanding for Mutual Cooperation in Offshore Wind Power Projects" on the 30th at Daewoo E&C headquarters in Jung-gu, Seoul.

At the signing ceremony, Kim Yonghae, Head of Civil Engineering Division at Daewoo E&C, Jo Jeongsik, CEO of Eco Solution BU at SK Ecoplant, along with executives and officials from both companies' wind power businesses attended. Based on this agreement, both parties will jointly participate in the development and EPC of offshore wind power projects and hold regular operational councils to discuss specific collaboration plans.

Daewoo E&C has established a Wind Power Business TFT within its Civil Engineering Division to strengthen its capabilities in the wind power sector. It possesses top-tier offshore infrastructure construction capabilities domestically, having successfully completed numerous large-scale offshore projects both at home and abroad, including the world's longest breakwater, the Iraq Al-Faw breakwater, and the submerged tunnel of the Geoga Bridge installed at the world's deepest depth. Daewoo E&C has completed renewable energy projects such as the Sihwa Lake tidal power plant and Jeju Gamgyul solar power plant, and is currently nearing completion of the Yeongwol wind power complex. Additionally, it is participating in multiple onshore and offshore wind power projects, including the Incheon Gulupdo offshore wind farm.

SK Ecoplant has a comprehensive business model covering all areas from offshore wind power and renewable energy project development to equipment manufacturing and green hydrogen production. It has SK Ocean Plant, a subsidiary specializing in manufacturing offshore wind substructures, and is currently developing a total of 3.8GW offshore wind projects across five regions including Ulsan and Jeonnam. Recently, SK Ecoplant signed a priority supply contract to carry out the transportation and installation work for the 500MW-class offshore wind project ‘Anma Offshore Wind,’ the first of its kind by a Korean company. The CEO of SK Ecoplant was also appointed as the chairman of the Korea Wind Industry Association, recognized for leading the entire offshore wind power value chain.

The rapidly expanding offshore wind market involves complex offshore construction and requires timely deployment of main equipment, substructures, and installation vessels. Therefore, it is expected that the collaboration between Daewoo E&C, with its experience in large-scale offshore construction, and SK Ecoplant, which owns substructure manufacturing facilities and is securing stakes in dedicated offshore wind vessels, will create significant synergy. Representatives from Daewoo E&C and SK Ecoplant expressed their ambition, stating, “According to the 10th Basic Plan for Electricity Supply and Demand, a target of approximately 14GW of offshore wind power is set by 2030, with numerous offshore wind projects underway. Through the collaboration between Daewoo E&C and SK Ecoplant, we aim to become leading companies in the wind power industry.”