Copenhagen Infrastructure Partners (CIP) has formalized a non-binding memorandum of understanding (MoU) with HSG Sungdong for the development of floating wind structures in conjunction with its ambitious 1500MW Haewoori offshore wind project in South Korea.
The MoU outlines a collaborative effort between the two entities, aimed at exploring opportunities to enhance the fabrication of floating foundations. The primary objective is to drive cost efficiencies in the realm of floating offshore wind in the Korean market.
Jonathan Spink, CEO of Haewoori Offshore Wind Power Co, emphasized the significance of forging partnerships with local companies to ensure the success of the offshore wind power business within the Haewoori offshore wind project led by CIP.
Spink stated, “We hope that the business agreement between the two companies will not only serve as an opportunity to find an optimized floating substructure method but also an opportunity to contribute to reducing the cost of floating offshore wind power in Korea.” The collaboration is seen as a strategic move to create value through synergy, fostering advancements in the offshore wind sector in South Korea.