A file photo of an offshore wind power turbine test site in a southwestern region, in this photo provided by the Korea Offshore Wind Power Co.
SEOUL, May 28 (Korea Bizwire) – South Korea’s leading steelmaker POSCO has joined hands with Orsted A/S, the world’s largest offshore wind power producer in the areas of offshore wind power and green hydrogen production.
The two parties recently signed a memorandum of understanding (MOU) to promote a comprehensive partnership with a focus on domestic offshore wind energy and green hydrogen production.
The Danish state-run energy firm is currently engaged in an 8 trillion won (US$7.16 billion) project to build a 1.6-gigawatt offshore wind farm in Incheon that is slated to begin commercial operation after 2026.
Once established, the offshore wind farm will be the largest in South Korea.
Thus far, POSCO has maintained cooperative relations with Orsted, including the supply of more than 100,000 tons of rolled steel for the latter’s Hornsea Wind Farm project in Britain.
Under terms of the latest MOU, Orsted will be in charge of the development of offshore wind power projects and the establishment of a green hydrogen production facility in South Korea.
POSCO will supply steel products needed for the construction of the offshore wind farm, while participating in green hydrogen production using wind power.
In addition, POSCO Engineering & Construction Co., the construction arm of POSCO, will be responsible for building offshore wind power structures, while a private electricity provider POSCO Energy will be engaged in green hydrogen storage and hydrogen power generation.
Kevin Lee (kevinlee@koreabizwire.com)
