Hyundai Electric to build factory to produce Haliade-X offshore wind turbine

The firm agreement follows a memorandum of understanding first announced by the two companies in February 2022.

The new agreement outlines plans for the establishment of a factory in South Korea to produce nacelles and generators used in Haliade-X turbines, with potential to also leverage the South Korean base for exporting generator components.

In addition to signing the agreement, GE Renewable Energy and Hyundai Electric have also signed a letter of intent to establish a joint venture if the collaboration of the two companies wins the volume of orders needed to support such efforts.

GE Offshore Wind chief commercial officer Fabrice Kermorgant said, “We are pleased to take the next step in our strategic partnership with Hyundai Electric.

“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 the APAC region.”

Hyundai Electric president and chief executive Seok Cho said the agreement would enable the company to support the South Korean Government’s plan for 12 GW of offshore wind by 2030.