Wind Energy – Korea
Danish wind turbine producer Vestas Wind Systems A/S has said it would invest $300 million in South Korea and positively consider relocating its Singapore-based Asia-Pacific headquarters to Korea.
Vestas Wind Chief Executive Henrik Andersen on Wednesday made the announcement on the sidelines of the World Economic Forum, also known as the Davos Forum, in Switzerland.
He reported the investment and Asian headquarters relocation plans to Korea’s trade minister at a business meeting where Korean President Yoon Suk-yeol also attended, Seoul’s presidential office said.
Through the investment, the world’s largest wind turbine maker plans to build a turbine parts factory in Korea and export components to countries across the Asia Pacific region.
Candidates for the plant site include coastal cities such as Ulsan and Mokpo, officials said.
Vestas is also considering a joint venture with Korean wind turbine tower manufacturer CS Wind Corp., they said.