SK oceanplant, Corio Generation sign MOU for offshore wind farms

Industry

Published: 17 Mar. 2023, 12:39 Updated: 17 Mar. 2023, 13:40

SK oceanplant, Corio Generation sign MOU for offshore wind farms

Lee Seung-chul, left, SK oceanplant CEO, and Choi Woo-jin, head of Korea at Corio Generation, pose for a photo during a signing ceremony held on Thursday at Corio Generation's Seoul office in Jongno District, central Seoul. [SK ECOPLANT]

SK oceanplant and Corio Generation, a London-based offshore wind farm company, signed a memorandum of understanding for joint offshore wind farm projects.

SK oceanplant, a wind turbine substructure manufacturer, will supply wind turbine substructures and offshore substations for Corio’s wind farm projects in and outside Korea, while Corio will develop, manage and invest in the projects.

Founded in April last year, Corio Generation is an offshore wind farm developer of Macquarie Group’s Green Investment Group, which is based in Edinburgh, Scotland.

The two companies plan to collaborate on offshore wind farm projects in Korea, the United Kingdom, Australia, and Taiwan, including Corio’s bottom-fixed offshore wind farm projects in Busan.

The combined capacity of joint projects reaches 6.8 gigawatts.

SK oceanplant, recently rebranded from Samkang M&T, was acquired by SK ecoplant last year. The company is currently building a 1.6-million-square-meter wind turbine substructure production facility in Goseong, South Gyeongsang, with an annual production capacity of 650,000 tons.

“SK oceanplant is transforming into a global offshore wind power operator as demonstrated by its acquisition of a 51 percent stake in an offshore wind farm project in Taiwan, as well as its entry into the Japanese offshore wind market,” said Lee Seung-chul, SK oceanplant CEO.

“Offshore wind power business is poised to provide enormous business opportunities for Korean companies that are the most competitive in the global shipbuilding, offshore plants, steel, and heavy industries,” said Choi Woo-jin, head of Korea at Corio Generation.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]