GS Entec, Corio Generation sign MOU to develop sea wind power in Busan
GS Entec Executive Vice President Kwon Tae-nyoun, left, shakes hands with Corio Generation Korea CEO Choi Woo-jin after signing a memorandum of understanding to develop offshore wind power in Busan at the GS Entec building in Ulsan, July 20. Courtesy of GS Group
By Kim Jae-heun
GS Entec, an energy equipment manufacturing subsidiary of GS Global, signed a memorandum of understanding with Corio Generation, a global offshore wind development company of Green Investment Group, to exploit eco-friendly energy in Busan, the company official said Monday. Under the deal, GS Entec will support the production and timely procurement of substructures for Busan offshore wind power generators.
The energy equipment builder earlier signed a strategic partnership with Sif, the world's No. 1 manufacturer of wind turbine foundations, for the first time in Asia, and introduced monopile technology to enter the offshore wind business. A monopile is a cylindrical structure made by welding a large thick plate and is necessary for installing offshore wind power generators.
Corio also signed a business agreement with Daewoo Engineering & Construction in May to develop offshore wind power facilities in Busan. It has recently been making steady efforts to revitalize the local economy with green energy by sponsoring Korea-British offshore wind supply chain corporate cooperation workshops.
“Busan already has a wide range of related companies operating in the region throughout every stage of the offshore wind power project, including its research, design, procurement and construction. Cooperating with domestic companies to create businesses together and helping them to enter overseas markets is a practical contribution to the local economy and realistic response to the climate crisis,” said Choi Woo-jin, head of Corio Generation's Korea office.
Corio also plans to continue to establish supply chains with regional-based wind-related tech firms and actively utilize them in the future to secure a stable supply of equipment and parts for the eco-friendly project in Busan.
“Corio will do its best to ensure that the offshore wind power project currently being promoted in Busan's Cheongsapo and Dadaepo areas will bring the maximum benefits to the region,” Choi said.