SOUTH KOREA - The firm agreement follows a Memorandum of Understanding first announced by the two companies in February, 2022.

GE Renewable Energy has announced that together with Hyundai Electric, they have signed a strategic partnership agreement as the next step in their efforts to work together to serve the South Korean offshore wind market. 

According to GE, under the terms of the agreement, Hyundai Electric will serve as a manufacturing associate to help localize assembly of the Haliade-X offshore wind turbines and generators in South Korea.  The firm agreement follows a Memorandum of Understanding first announced by the two companies in February, 2022.

Fabrice Kermorgant, Chief Commercial Officer GE Offshore Wind, said, "We are pleased to take the next step in our strategic partnership with Hyundai Electric.  This agreement will enhance our ability to serve local customers, create significant local economic benefits, and establish a local supply chain ideally suited to serve the growing offshore wind market in South Korea and potentially beyond in APAC."

"We are pleased to produce and supply GE's latest wind turbines in Korea," said Seok Cho, president and CEO of Hyundai Electric. "We will actively go into the domestic offshore wind market, and we will do our best to support our government to achieve 2030 Nationally Determined Contributions."

Source: GE