South Korea’s HD Hyundai Heavy Industries has signed a memorandum of understanding (MOU) with Scottish Enterprise (SE) and Highlands and Islands Enterprise (HIE) for cooperation on floating offshore wind projects.
Under the agreement, HD Hyundai will share its know-how in designing and manufacturing floating offshore structures and support supply chain optimization measures. SE and HIE will help with the search for financial support in Scotland and with securing human and material networks for potential suppliers, manufacturing facilities, and investors.
HD Hyundai stated that offshore wind power structures require design and production that takes into account the marine environment and that this was one of the strengths of companies with extensive offshore plant production experience.
“We are currently seeking ways to cooperate with various partners to develop the offshore wind power market, such as building production and supply infrastructure,” an official from HD Hyundai said.
The MoU will also boost the UK government’s plans to expand the offshore wind power generation capacity from 11GW in 2021 to 50GW by 2030. This agreement follows an announcement from the Scottish First Minister’s Humza Yousaf regarding a strategic investment of up to £500m ($622.6m) over the next five years into the offshore wind supply chain in Scotland.