Shippingtelegraph: Hanwha Ocean, Hyundai E&C team up on offshore wind projects

by Shipping Telegraph

South Korea’s Hanwha Ocean has signed a memorandum of understanding (MoU) with Hyundai Engineering & Construction (Hyundai E&C) to strengthen collaboration in the offshore wind energy sector.

Through this MoU, the two companies agreed to establish a domestic offshore wind engineering, procurement, and construction (EPC) partnership, starting with the Shinan Ui offshore wind project.

Hanwha Ocean also plans to deploy a self-built WTIV capable of installing 15MW-class large turbines at the site in the first half of 2028.

The Shinan Ui offshore wind project, led by Hanwha Ocean, is on track to sign financial agreements and begin construction by October 2025.

Hyundai E&C will participate as an engineering, procurement, and construction (EPC) investor and co-contractor.

Notably, Hanwha Ocean plans to deploy its self-built wind turbine installation vessel (WTIV) capable of installing 15MW-class large turbines to the site in early 2028. “This vessel is expected to be the largest WTIV operating in Korea,” reads the company’s statement.

“Strengthening the supply chain from the early stage of market development is essential to ensuring security in Korea’s offshore wind sector,” said Hanwha Ocean CEO Kim Hee-cheul. “Through this partnership, we will maximize technological synergies and establish a stable foundation for clean energy supply.”