RWE and Hyundai Engineering & Construction Co have signed a memorandum of understanding to jointly develop offshore wind projects in South Korea.
The pair said that they aim to accelerate the country’s energy transition by generating green electricity on the waters surrounding it.
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Under the agreement, they will work closely together to develop projects in line with South Korea’s Net Zero 2050 target as well as in line with the government’s plan of increasing offshore wind’s capacity to 24GW.
It also covers exploring other offshore opportunities on a global scale, RWE said.