Wind Energy – Floating Wind
Principle Power has signed a non-exclusive Memorandum of Understanding (MoU) with HSG Sungdong to cooperate on engineering developments for mass production and assembly of WindFloat technologies.
The agreement furthers the development of a sustainable domestic supply chain in South Korea and supports the country’s ambition to achieve 14.3 GW of offshore wind capacity by 2030.
Lúcio Rodrigues, Head of Supply Chain, and Procurement for Principle Power said: “Principle Power collaborates with partners globally to help them prepare for the serial manufacturing and delivery of WindFloat foundations. Through this agreement, we will provide HSG Sungdong with high-quality inputs on WindFloat design, specifications, and lessons learned to support their efforts to optimize their facilities and processes for the fabrication and assembly of floating wind foundations cost-effectively and at scale.”
“With Principle Power’s extensive global track-record and operating experience in floating wind, and HSG Sungdong’s formidable manufacturing capabilities, we are working together to build optimized delivery scenarios for floating wind projects in Korea and export markets that use local expertise and existing shipyard capabilities.”
“Our goal is to foster a robust and sustainable supply chain ecosystem through early engagement with select suppliers to build readiness for the timely and effective delivery of floating wind projects. These engagements are an extremely important part of building a new industry the right way, providing customers and government with confidence about deliverability.”
