Wedoany.com Report-Sept. 28, POSCO Group, a leading steel manufacturer, and Ørsted, a global renewable energy developer, have signed a memorandum of understanding at the POSCO Center in Seoul, South Korea, to jointly develop the 1,400 MW Incheon offshore wind farm. The agreement outlines collaboration across the supply chain, encompassing high-strength steel supply, construction, offshore installation, and long-term operations and maintenance.

Ørsted secured a generation license for the Incheon project in 2023. The partners will form a joint working group to advance project planning and accelerate implementation. This collaboration aims to strengthen South Korea’s offshore wind industry and expand the nation’s renewable energy supply.

Lee Ju-tae, CEO of POSCO Holdings, stated: “The group would consolidate its expertise across the domestic supply chain to enhance the sector’s growth.” POSCO’s advanced steel technology will support the project’s infrastructure needs, ensuring robust construction and operational efficiency.

Per Mejnert Kristensen, Ørsted’s Asia Pacific President, said: “The collaboration would maximise synergies by combining POSCO’s technology with the developer’s offshore wind experience.” Ørsted’s expertise in offshore wind development complements POSCO’s industrial capabilities, facilitating effective project execution.

The Incheon offshore wind farm is poised to play a significant role in South Korea’s energy transition, contributing to national renewable energy objectives. POSCO is also pursuing broader sustainability initiatives, including hydrogen-based steelmaking and low-carbon energy development, aligning with global environmental goals.

The project is expected to generate economic benefits in South Korea through job creation and supply chain development. By integrating POSCO’s material expertise with Ørsted’s renewable energy knowledge, the Incheon wind farm aims to set a standard for large-scale offshore wind projects, enhancing energy reliability and supporting sustainable development in the region.