GE Renewable Energy and Hyundai Electric have signed a strategic partnership agreement to help localise the assembly of GE’s Haliade-X offshore wind turbines and generators in South Korea.
The agreement outlines plans for the establishment of a factory in South Korea for producing the nacelles and the generators used in Haliade-X turbines, with the potential to also leverage the South Korea base for exporting generator components.
“This agreement will enhance our ability to serve local customers, create significant local economic benefits, and establish a local supply chain ideally suited to serve the growing offshore wind market in South Korea and potentially beyond in APAC”, said Fabrice Kermorgant , Chief Commercial Officer of GE Offshore Wind.
The agreement follows a Memorandum of Understanding from February 2022 and will see Hyundai Electric serve as a manufacturing associate.
In addition to signing the strategic partnership agreement, GE Renewable Energy and Hyundai Electric also signed a letter of intent to establish a joint venture if the collaboration of the two companies wins the larger volume of orders needed to support such efforts.
“We will actively go into the domestic offshore wind market, and we will do our best to support our government to achieve 2030 Nationally Determined Contributions”, said Seok Cho , president and CEO of Hyundai Electric.
South Korea announced plans to add 12 GW of offshore wind by 2030.