HD Hyundai Heavy Industries is making a full-scale entry into the European offshore wind power market by partnering with the Scottish Economic Development Agency.
On the 16th (local time), HD Hyundai Heavy Industries announced on the 17th that it signed a Memorandum of Understanding (MOU) for cooperation on floating offshore wind power projects in Scotland with Scottish Enterprise (SE) and Highland & Islands Enterprise (HIE) in Edinburgh, Scotland.
The signing ceremony was attended by Choi Han-nae, Executive Director in charge of Planning and Wind Power Business at HD Hyundai Heavy Industries; Sonya Robison, Deputy First Minister of Scotland; Adrian Gillespie, CEO of SE; Stuart Black, CEO of HIE; and Steven Baker, Global Head of Foreign Direct Investment at the Scottish International Development Agency.
On the 16th (local time), HD Hyundai Heavy Industries signed a Memorandum of Understanding (MOU) for cooperation to advance into the Scottish offshore wind sector with Scottish economic development organizations in Edinburgh, Scotland. From the left: Adrian Gillespie, CEO of SE; Choi Han-nae, Executive Director of HD Hyundai Heavy Industries; Sonya Robison, Deputy First Minister of Scotland; Stuart Black, CEO of HIE. Photo by HD Hyundai Heavy Industries
HD Hyundai Heavy Industries will jointly promote floating offshore wind power projects in Scotland with local institutions. HD Hyundai Heavy Industries will share its know-how in designing and manufacturing floating offshore structures and support supply chain optimization measures, while SE and HIE will seek financial support measures within Scotland and assist in securing human and material networks.
Offshore wind power structures require design and manufacturing that consider harsh marine environments, giving shipbuilders with extensive marine plant manufacturing experience an advantage. Offshore wind power is attracting attention as a blue ocean for the shipbuilding industry because large structures can be manufactured immediately without special structural changes or facility investments in shipyards. The Global Wind Energy Council (GWEC) forecasts that the cumulative installed capacity of offshore wind power worldwide will increase from 63.3 GW in 2022 to 477 GW by 2032.
HD Hyundai Heavy Industries entered the offshore wind power business last year, being selected as the preferred EPC (Engineering, Procurement, and Construction) negotiator for the Ulsan offshore wind power construction project. HD Hyundai is also focusing on building an integrated energy value chain at the group level to achieve carbon neutrality.
Sonya Robison, Deputy First Minister of Scotland, said, "This cooperation is expected to play a key role in achieving Scotland’s climate goals."
An official from HD Hyundai Heavy Industries stated, "We are currently exploring cooperation plans with various partners to establish manufacturing and supply infrastructure to pioneer the offshore wind power market. We plan to expand the market by leveraging our world-class know-how in designing and manufacturing floating structures."
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