Shipbuilding major Hanwha Ocean has teamed up with compatriot Hyundai Engineering & Construction to strengthen South Korea’s offshore wind supply chain by partnering on EPC projects.
The collaboration between the two companies will begin on the Shinan Ui offshore wind farm.
Under a memorandum of understanding, Hanwha Ocean will oversee offshore installations while Hyundai E&C manages onshore construction, a division of roles expected to create strong synergies.
Hanwha Ocean will also contribute to localising key infrastructure by constructing its own wind turbine installation vessel (WTIV). The self-built WTIV will be able to install 15MW offshore wind turbines at the site in the first half of 2028.
The Shinan Ui offshore wind project, led by Hanwha Ocean, is scheduled to secure financing and break ground in October. Hyundai E&C will participate as a construction investor and co-contractor.
The two companies are currently jointly pursuing seven offshore wind projects and have agreed to use Hanwha Ocean’s WTIV in upcoming domestic offshore wind projects.
