RenewableUK Signs MoU with Korean Wind Energy Association

RenewableUK, the trade and professional body representing the wind, wave and tidal energy industries, has signed an unprecedented Memorandum of Understanding with the Korean Wind Energy Association.

At a signing ceremony in London, the two associations committed to an agreement to work together to increase trade by “pursuing mutually beneficial business opportunities”. RenewableUK and the Korean Wind Energy Association will “facilitate opportunities for business engagement among individual companies active in the wind sectors of the two countries”. The event also saw an accord finalised between the Department for Business, Innovation and Skills and the Korean Ministry of Knowledge and Economy.

The Korean Vice Minister of Knowledge Economy Seok Cho was present at the ceremony at the Lancaster Hotel. The accord was signed by the Chief Executive of RenewableUK, Maria McCaffery MBE, and Dr Rimtaig Lee, the Chairman, Korean Wind Energy Industry Association and witnessed by the Korean Ambassador Kyu Ho Choo.

 Maria McCaffery, Chief Executive of RenewableUK, said:

 “A great opportunity exists, following the Clean Energy Ministerial Summit earlier this week, to further develop ties between nations leading the world in renewable energy development. That is why we are here today alongside our friends from South Korea, signing our first ever agreement with another national wind energy trade association. It’s also why we’re hosting a global offshore wind conference to highlight the scale of the opportunity within the UK with a session specifically dedicated to Korea and Japan”.

“Given the ambition of the South Korean Government, and strong business links between companies and Governmental undertakings in both our countries, RenewableUK is delighted today to be signing this Memorandum of Understanding with the Korean Wind Energy Industry Association.”

The UK and South Korea are already engaging commercially in the offshore wind sector with a significant investment announced by Samsung earlier this year. On 31st January, Samsung announced a £100 million project in Scotland to develop its new 7 megawatt offshore turbine at Fife Energy Park, which will employ up to 500 people – the company’s first venture of this type in Europe. Samsung has also teamed up with UK based David Brown Gear Systems in a multimillion pound deal to design and manufacture gearboxes for the new turbine. Samsung and David Brown, alongside other industry representatives, attended the Accord signing today.

South Korea has plans to develop a 2.5 gigawatt offshore wind project in the South China Sea. South Korea currently generates 2% of its energy from renewable sources. It plans to increase this to 10% by 2022.

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Offshore WIND staff, April 30, 2012; Image: statkraft