Vestas and Maersk team up for South Korean offshore wind
South Korea is targeting 14.3GW offshore wind by 2030, with favourable conditions pulling in a range of international investors
Turbine-making giant Vestas has signed an agreement with its Danish compatriot Maersk to establish a nacelle manufacturing plant and logistics base for offshore wind turbines in South Korea, the company revealed today (Monday).
A plant and logistical base envisioned in the memorandum of understanding will help supply offshore wind turbines for the Mokpo New Port Hinterland Complex, Vestas stated in a LinkedIn post.
Vestas and shipping giant Maersk also invest in the Korean economy by "potentially hiring local talent and collaborating with local companies,” the OEM said.
Mokpo City, near the country’s southern tip, and the surrounding Jeonnam Province “will provide the necessary administrative and financial support to create a sustainable supply chain,” Vestas said, adding that the plan is “dependent on the pace of market growth and awarded volume for Vestas.”
Vestas chief operating officer Tommy Nielsen attended a signing ceremony for the deal with Vincent Clerc, CEO of Maersk; Kim Yung-rok, governor of Jeollanam Province; and Park Hong-ryul, mayor of Mokpo City.
Clerc said Maersk is continuing to “strengthen our partnership with Vestas, which is based on a shared vision and our joint commitment to a green, sustainable future for our planet.”
The East Asian country has a target to install 14.3GW in its waters by 2030, compared to only 0.1GW now.
Favourable site conditions have attracted interest from a wide range of international developers, boosting the pipeline of projects with a much-coveted electricity business license to 27.6GW, Aegir stated.