Doosan Heavy Industries & Construction to Cooperate with Sk Engineering & Construction on Floating Offshore Wind Farm Projects

Source Press Release
Company SK Corporation 
Tags Asset Deals, Deals, Renewable Energy, Power
Date November 19, 2020

- Signing of technical cooperation agreement for floating offshore wind farms
- Cooperating with Korea South-East Power Co. and Jeju Energy Corporation on state-led project for developing floating offshore wind power generation system

□ Doosan Heavy Industries & Construction announced on November 19 that it had signed a technical cooperation agreement for floating offshore wind farm projects with SK Engineering & Construction (SK E&C). Attending the signing ceremony held at SK E&C’s head office on November 18 were Jaehyun Ahn, CEO of SK E&C, and Inwon Park, CEO of Doosan Heavy’s Plant EPC Business Group.

□ The two companies agreed to implement a cooperation system for the floating offshore wind farm business carried out by SK E&C. Under the agreement, SK E&C will take on the development of the wind farm complex, including development of the business plan and obtainment of the licenses and permits, while Doosan will assume responsibility for the technology development to manufacture key equipment for floating offshore wind farms.

□ “Given the rising interest in floating offshore wind farms, the signing of this agreement will open up more business opportunities for us in the market. We will endeavor to successfully pursue the floating offshore wind power business, including projects in the Ulsan and Southeast region of Korea, where we expect to see phased growth starting in 2023," said Inwon Park, CEO of Doosan Heavy’s Plant EPC BG.

□ Since May, Doosan has been participating in the national project led by Korea Institute of Energy Technology Evaluation and Planning (KETEP) for development of a floating offshore wind power generation system as part of the consortium formed with Korea South-East Power Co. (KOEN) and Jeju Energy Corporation (JEC).

□ According to the Global Wind Energy Council’s “Global Wind Report 2020,” the global market for floating offshore wind power is expected to grow from 100MW this year to a maximum of 13.6GW by 2030. Doosan plans to invest in R&D and production facilities to expand its floating offshore wind power business.

Source: EvaluateEnergy® ©2022 EvaluateEnergy Ltd