Hanwha Ocean and Hyundai Engineering & Construction have signed a Memorandum of Understanding (MoU) to strengthen collaboration in offshore wind. Hanwha Ocean took over Hanwha Corporation’s wind power business in December 2024 and now holds permits for offshore projects with a combined capacity of 2 GW, including the Shinan Ui project.
The Shinan Ui offshore wind project, led by Hanwha Ocean, is expected to secure financial agreements and begin construction by October 2025. Hyundai E\&C will participate as an EPC investor and co-contractor. Hanwha Ocean also plans to deploy its self-built wind turbine installation vessel, capable of installing 15 MW turbines, to the site in early 2028.
