General – MoU South Korea
This week RWE has signed a Memorandum of Understanding with Hyundai Engineering & Construction to jointly develop offshore wind and green hydrogen in South Korea.
Sven Utermöhlen, CEO, RWE Offshore Wind together with Hyundai Engineering & Construction CEO, Young-joon Yoon, officially signed the strategic business agreement.
Korea presents a highly attractive market for the development of offshore wind, with favourable geographical conditions and increasing demand for renewable energy.
Sven Utermöhlen said: “Leveraging our two companies’ synergies, we will be working together to aid Korea on its planned path towards its Net Zero 2050 target and support on reaching an expected offshore wind capacity of 24 gigawatts by 2036.”