Hanwha Ocean, a Korea-based company, has signed a memorandum of understanding (MoU) with Hyundai Engineering & Construction (Hyundai E&C) in Seoul, South Korea, to strengthen the country’s offshore wind supply chain and promote local production. The agreement establishes a collaborative engineering, procurement, and construction (EPC) partnership, starting with the Shinan Ui offshore wind project in South Jeolla Province.

The MoU includes Hanwha Ocean’s plan to construct wind turbine installation vessels (WTIVs) capable of installing 15-megawatt turbines for future projects alongside Hyundai E&C. Hanwha Ocean has secured permits for offshore wind initiatives totaling 2 gigawatts, including the 390-megawatt Shinan Ui wind farm, which will feature 26 Vestas V236-15.0 MW turbines. Hyundai E&C contributes expertise from its work on South Korea’s first offshore wind farm, the Southwest Sea Demonstration project, and the Jeju Hanlim Offshore Wind Power Project.

“This partnership enhances our ability to deliver sustainable energy solutions and supports the growth of South Korea’s offshore wind industry,” said a Hanwha Ocean representative. The Shinan Ui project is set to finalize financing and begin construction in October, with Hyundai E&C participating as a construction investor and joint contractor.

The collaboration focuses on building local expertise and resources for offshore wind development. Hanwha Ocean’s WTIV construction will improve the capacity to install large-scale turbines efficiently. “Our joint efforts with Hanwha Ocean will set a new standard for offshore wind projects, leveraging our combined strengths,” said a Hyundai E&C spokesperson.

The Korean Ministry of Trade, Industry and Energy previously noted that Korea South-East Power, a subsidiary of Korea Electric Power Corporation, withdrew from the Shinan Ui project earlier this year. Despite this change, Hanwha Ocean and Hyundai E&C remain committed to advancing the project, which will contribute to South Korea’s renewable energy objectives.

Located off the coast of Sinan County, the Shinan Ui wind farm will harness offshore wind resources to support sustainable energy production. The partnership aims to foster innovation and sustainability in the energy sector, creating jobs and strengthening local supply chains. By combining Hanwha Ocean’s vessel construction expertise with Hyundai E&C’s construction capabilities, the collaboration seeks to deliver reliable, high-quality offshore wind projects to meet growing energy demands.