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RWE and Hyundai Engineering & Building have inked an MoU to collaborate on offshore wind and inexperienced hydrogen. The goal is to speed up Korea’s vitality transition by selling offshore wind and contributing to the hydrogen financial system. The signing ceremony in Seoul concerned Hyundai E&C CEO Younger-joon Yoon and RWE Offshore Wind CEO Sven Utermöhlen.
They may collectively develop offshore wind initiatives in Korea, aligning with the nation’s Web Zero 2050 goal and the objective to extend renewable vitality capability to 108.3 GW by 2036. This contains 34.1 GW of wind capability, with 24 GW anticipated to be offshore wind. Hyundai and RWE additionally intend to discover world offshore wind alternatives. Moreover, pending market circumstances, the companions goal to combine Hyundai’s hydrogen experience from its first Korean electrolysis plant with RWE’s hydrogen expertise for future inexperienced hydrogen initiatives throughout the worth chain.
Talking concerning the improvement, Younger-joon Yoon, CEO Hyundai Engineering and Building, mentioned, “The world is now at a essential crossroads within the vitality transition. I anticipate our collaboration with world chief RWE to be a outstanding step in assembly the calls for of the occasions. We’ll proceed to develop sustainable vitality options to steer the home offshore wind business and create new enterprise alternatives within the renewable vitality sector via the long-term partnership with RWE.”
Sven Utermöhlen, CEO RWE Offshore Wind, added, “As RWE we’re honoured to associate with Hyundai E&C, probably the most outstanding and revered corporations in Korea and past. Korea is without doubt one of the most tasty markets for the event of offshore wind and inexperienced hydrogen. In Hyundai E&C we’ve got a robust associate at our facet who shares our values and ambition to drive the expansion of inexperienced vitality. Collectively, we will obtain much more to advance the vitality transition – for the advantage of society and our stakeholders.”
