Hyundai Heavy Sets Sights on Scottish Floating Offshore Wind

Major South Korean shipbuilder, HD Hyundai Heavy Industries, has signed a Memorandum of Understanding with two Scottish enterprise agencies which is expected to unlock expertise in the design and manufacture of floating offshore wind substructures.

Scottish Enterprise (SE) and Highlands & Islands Enterprise (HIE) signed the MoU with Hyundai Heavy in Edinburgh, described as a “vote of confidence” in Scotland, committing each other to pursue opportunities for floating offshore wind projects in Scotland.

This is the South Korean company’s first agreement in Europe on floating offshore wind manufacturing.

HD Hyundai Heavy Industries is the world’s largest shipbuilding company and a major manufacturer of equipment such as the floating substructures that form a critical part of the multi-billion offshore wind supply chain.

”We are currently exploring ways to collaborate with various partners to develop the offshore wind market, including establishing a manufacturing supply infrastructure,” Senior Vice President of Corporate Planning Division and Wind Energy Business, HD Hyundai Heavy Industries, Hannae Choi, said.

”We plan to expand the market by leveraging our world-class know-how in designing and manufacturing floating structures.”

The latest in a series of key developments in the sector, the MoU follows the Scotland First Minister’s announcement of strategic investment of up to GBP 500 million over the next five years to unlock private investment in ports, manufacturing and assembly work to anchor the offshore wind supply chain in Scotland.

It also builds on recent announcements of international investment into the renewable energy supply chain, including the planned GBP 350 million Sumitomo cable factory in the Port of Nigg, based in the Inverness and Cromarty Firth Green Freeport area. Up to GBP 24.5 million of funding has been committed to this project by the Scottish Government, SE and HIE.

”This partnership agreement is a vote of confidence in Scotland and our offshore wind industry – demonstrating our ability to develop the international relationships upon which investment that will help us reach our climate targets is founded,” Deputy First Minister Shona Robison, who witnessed the MoU signing, said.

”Scotland’s offshore wind sector is key to our transition to net zero and this partnership is the next step forward in realising the economic opportunities from our floating offshore wind potential. Scottish Enterprise and Highlands & Islands Enterprise are playing a vital role in supporting a fair and just transition for the energy sector. Collaborations between our economic development agencies and global leaders with world-class expertise, such as HD Hyundai Heavy Industries, are key to delivering that ambition. This collaboration will play a key role in helping Scotland meet its climate targets.”

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