South Korean yard Hanwha Ocean has won an order worth 768.7bn ($526m) for one large wind turbine installation vessel (WTIV) from its affiliate Ocean Wind Power 1.
This vessel is scheduled for delivery in the first half of 2028 and will first participate in domestic offshore wind projects, including the Shinan-Ui project.
This WTIV will be the first Korean vessel capable of installing large 15MW offshore wind turbines and is expected to be among the largest of its kind operating in the South Korean offshore wind market.
Hanwha Ocean stated that this WTIV order will support the development of core offshore wind infrastructure using domestically built vessels and a domestic supply chain.
Currently, most South Korean offshore wind farms are being constructed using Chinese-built, owned, and operated vessels, so domestically built vessels will reduce supply chain dependency risks.
Hanwha Ocean has experience building WTIVs, having built four such vessels. The most among South Korean shipbuilders.
“As the government moves to expand foundational infrastructure such as ports and vessels with a goal of deploying 25GW of offshore wind power by 2035, Hanwha Ocean will contribute to the growth of the domestic offshore wind industry based on its competitiveness in large, high-value-added offshore wind special-purpose vessels,” a company official said.
