Wind Energy – South Korea
Two domestic shipbuilders, including Hanwha Ocean, will secure and are formalising the final details of orders worth 1.4 trillion KRW for two 15MW-class large offshore wind turbine installation vessels (WTIVs), laying the groundwork for self-reliance in South Korea’s offshore wind construction market.
This move (to be materialised in 2025) is seen as a way to prevent the domestic market from falling into the hands of European and Chinese competitors.
WTIVs are high-value specialized vessels used for installing offshore wind turbines, and South Korea possesses world-class technology for building them.
The government is pushing forward with a plan to expand offshore wind power capacity to 14.3GW by 2030. The deployment of these two new WTIVs is expected to meet the annual installation demand.
Additionally, the domestic shipbuilding industry has gained an opportunity to strengthen its competitiveness in global markets, including the U.S. and Europe, through this order.
