RWE, a global offshore wind leader, and Hyundai Engineering & Construction (Hyundai E&C), a subsidiary of Hyundai Motor Group, have inked a Memorandum of Understanding (MoU).
This collaboration aims to synergize efforts in offshore wind and green hydrogen, aligning with Korea’s Net Zero 2050 target and its ambitious plan to boost renewable energy capacity.
The partnership envisions joint efforts in developing offshore wind projects in Korea, with a particular focus on contributing to the government’s goal of reaching 108.3 gigawatts of renewable energy capacity by 2036. This includes a substantial 24 gigawatts from offshore wind projects. The collaboration extends beyond Korea, with plans to explore global offshore wind business opportunities.
Additionally, the partners, capitalizing on favorable market conditions, intend to combine Hyundai’s hydrogen expertise from its electrolysis plant with RWE’s comprehensive hydrogen experience along the entire value chain. This collaboration seeks to drive future green hydrogen projects, aligning with the global shift towards sustainable and cleaner energy sources.