In Korea, RWE and Hyundai Engineering & Construction have signed a Memorandum of Understanding (MoU) to cooperate in the field of offshore wind and green hydrogen.
Both partners intend to work closely together to jointly develop offshore wind projects in Korea in line with the country’s Net Zero 2050 target and the government’s plan to increase renewable energy capacity to 108.3 gigawatts by 2036, thereof 34.1 gigawatts of wind capacity of which 24 gigawatts are expected to be offshore wind.
Hyundai and RWE also aim to explore jointly offshore wind business opportunities on a global scale. In addition, subject to favorable market conditions, the two partners plan to combine Hyundai’s hydrogen experience from its first Korean electrolysis plant for hydrogen production with RWE’s hydrogen expertise from various projects along the entire value chain for future green hydrogen projects.
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