GE plans South Korea offshore wind plant under Hyundai partnership
Local giant will help localise Haliade-X manufacturing and partners may form joint venture if larger orders flow
GE Renewable Energy plans to build a factory for nacelles and generators of its Haliade-X turbines in South Korea as part of a strategic partnership deal signed with Hyundai Electric.
The US-owned wind OEM also intends to set up a joint venture with the unit of Korean industrial conglomerate Hyundai Heavy Industries if the two partners win larger volumes of offshore wind orders in the East Asian country.
“This agreement will enhance our ability to serve local customers, create significant local economic benefits, and establish a local supply chain ideally suited to serve the growing offshore wind market in South Korea and potentially beyond in APAC,” said Fabrice Kermorgant, chief commercial officer at GE Offshore Wind.
Under the terms of the partnership deal signed now, Hyundai Electric will serve as a manufacturing associate to help localise assembly of GE’s Haliade-X offshore wind turbines and generators in South Korea. The companies also see a potential to leverage the planned South Korean base for exporting generator component.
“We are pleased to produce and supply GE’s latest wind turbines in Korea,” said Hyundai Electric chief executive Seok Cho.
“We will actively go into the domestic offshore wind market, and we will do our best to support our government to achieve 2030 Nationally Determined Contributions.”
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