Hyundai Steel Industry has won a contract worth about $450 million to manufacture and install substructures for an offshore wind farm in South Korea’s South Jeolla Province, local media reported.
The company has signed a 611.5 billion won ($450 million) agreement with shipbuilder Hanwha Ocean, with work set to begin this month and continue until January 2029, according to the reports.
The contract relates to the 390-megawatt Shinan Ui offshore wind project, which will be built in waters southeast of Uido in Shinan County. Hyundai Steel Industry said it will apply the so-called pre-piling method for the first time in South Korea, installing foundation piles before placing the substructures.
The company said the technique is expected to reduce construction time and improve installation accuracy.
Hyundai Steel Industry has been involved in offshore wind projects since taking part in the Tamra project in 2012, and has since worked on developments in Taiwan as well as Hallim on Jeju Island and Jaeun in South Jeolla Province.
“This Shinan Ui project will be an opportunity to elevate South Korea’s offshore wind construction technology to the next level,” Park Yong-seop, executive director and head of the company’s offshore wind business division, said.
