SK oceanplant, British Embassy ink MOU on offshore wind projects in UK

British Ambassador to Korea Colin Crooks, left, and SK oceanplant CEO Lee Seung-chul pose for a photo during a signing ceremony held on Thursday at the embassy in central Seoul. [SK OCEANPLANT]

SK oceanplant, a wind turbine substructure manufacturer, signed a memorandum of understanding (MOU) with the British Embassy in Seoul committing to comprehensive cooperation in the offshore wind sector, the company said Friday.

Through the latest agreement, SK oceanplant aims to secure a foothold in the United Kingdom, where the wind power market has some of the world’s largest growth potential.

The MOU was inked at the British Embassy in central Seoul on Thursday, with SK oceanplant CEO Lee Seung-chul and British Ambassador to Korea Colin Crooks in attendance.

With the signing of the deal, the two parties will collaborate on ongoing and upcoming offshore wind farm projects in the United Kingdom. With SK oceanplant planning to actively take part in offshore wind development projects in the country as well as establish a local supply chain, the embassy agreed to support the company with its operations there.

The British government aims to bring its offshore wind capacity from the current 11 gigawatts to 50 gigawatts by 2030. The combined capacity of offshore wind projects currently operational, under development, or planned amounts to 99.5 gigawatts, according to RenewableUK.

“There are a number of large-scale offshore wind projects in United Kingdom not only with fixed offshore wind turbines but also floating wind,” said Lee, adding, “Considering that the government-led renewables projects will run for a long period of time, the [British] market is the most ideal for us to realize our initiative to further expand business operations.”

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