GE Renewable Energy and Hyundai Electric have announced that 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.
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 agreement outlines plans for the establishment of a factory in South Korea for producing the nacelles and the generators used in Haliade X turbines, with potential to also leverage the South Korea base for exporting generator components. In addition to signing the strategic partnership agreement, GE Renewable Energy and Hyundai Electric also signed a letter of intent to establish a joint venture if the collaboration of the two companies wins the larger volume of orders needed to support such efforts.
