GE Renewable Energy and Hyundai Electric have signed a strategic partnership agreement to help localise assembly of GE’s Haliade-X offshore wind turbines and generators in South Korea.
The deal outlines plans for the establishment of a factory in South Korea to produce the nacelles and the generators used in the Haliade X turbines, with potential to also leverage the South Korea base for exporting generator components.
The agreement follows a Memorandum of Understanding from February, 2022 and will see Hyundai Electric will serve as a manufacturing associate
In addition to signing the strategic partnership agreement, GE Renewable Energy and Hyundai Electric also signed a letter of intent to establish a joint venture if the collaboration of the two companies wins the larger volume of orders needed to support such efforts.
Fabrice Kermorgant, Chief Commercial Officer GE Offshore Wind, 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 APAC.”
President and CEO of Hyundai Electric Seok Cho: “We are pleased to produce and supply GE’s latest wind turbines in Korea.
“We will actively go into the domestic offshore wind market, and we will do our best to support our government to achieve 2030 Nationally Determined Contributions.”