Hanwha, Hyundai Join Forces on Offshore Wind Projects

Hanwha Ocean has formed a partnership with Hyundai Engineering & Construction to bolster South Korea’s offshore wind supply chain through joint EPC initiatives.

The collaboration will first be applied to the Shinan Ui offshore wind farm. Under the memorandum of understanding, Hanwha Ocean will handle offshore installations, while Hyundai E&C will take charge of onshore construction—a division of responsibilities expected to generate strong synergies.

As part of the effort to localize infrastructure, Hanwha Ocean also plans to build its own wind turbine installation vessel (WTIV). The vessel will be capable of installing 15MW offshore wind turbines and is scheduled for deployment at the project site in the first half of 2028.

The Shinan Ui project, led by Hanwha Ocean, aims to secure financing and begin construction in October. Hyundai E&C will participate both as an investor and as a co-contractor.

Beyond this project, the two companies are pursuing seven additional offshore wind developments together and have agreed that Hanwha Ocean’s WTIV will be utilized in future domestic projects.