Pacifico Energy Korea has inked a memorandum of understanding (MOU) with HSG Sungdong Shipbuilding (HSG Sungdong), a prominent supplier of offshore wind foundations in Korea, to collaborate on developing and providing foundations for Pacifico Energy Korea's 3.2 GW offshore wind project cluster. This MOU marks the inaugural partnership between Korea and the United States in the development, fabrication, and supply of large-scale offshore wind substructures.
Establishing a competitive supply chain is crucial for advancing large-scale offshore wind projects amidst the prevailing supply chain challenges in the global offshore wind sector. At this pivotal moment, the MOU represents a significant milestone, underscoring Pacifico Energy Korea's commitment to securing a foundation supply chain and facilitating HSG Sungdong's foray into international offshore wind markets with top-tier products manufactured in Korea.
This groundbreaking MOU paves the way for Pacifico Energy Korea and HSG Sungdong to jointly investigate collaboration opportunities encompassing the fabrication, supply, and technological enhancement of substructures for the 3.2 GW offshore wind project cluster. Both entities aim to establish an enduring strategic alliance in both domestic and international offshore wind markets, championing competitive substructures manufactured in Korea. Additionally, they endeavor to nurture the development of local industries associated with offshore wind supply chains.
Seung-Ho Choe, Representative Director of Pacifico Energy Korea, said, “Cooperation between offshore wind developers and Korean suppliers is key to success in the development of GW-scale offshore wind projects as well as Korea becoming ‘Green Transition Hub’ in the Asia-Pacific region. The MOU between Pacifico Energy Korea and HSG Sungdong is the first partnership in the offshore wind substructure sector by a U.S.-based developer to strengthen ties with a Korean supplier to further develop and solidify Korea’s domestic offshore wind supply chain and also support Korea’s rise in the Asia-Pacific offshore wind market and beyond”.
The MOU signing ceremony took place at HSG Sungdong in Tongyeong, South Gyeongsang Province, marking a significant milestone in U.S.-Korean collaboration in green energy. Distinguished leaders from both nations graced the occasion, including Nolan Barkhouse, Principal Officer at the U.S. Consulate in Busan; Hyung-du Choi, a member of the National Assembly and the Trade, Industry, Energy, SMEs, and Startups Committee in South Korea; James Kim, Chairman and CEO of the American Chamber of Commerce in Korea (AMCHAM); and Woonsik Ha, Country Leader of GE Vernova.
Nolan Barkhouse, Consul / Principal Officer of the U.S. Consulate in Busan, South Korea, said in his remarks, “The signing of this MOU represents a remarkable stride in the U.S.-ROK partnership toward accelerating the green energy transition. It’s the first of its kind, focusing on large-scale offshore wind substructures, and demonstrates Korea’s commitment to addressing climate change”.
Hyung-du Choi, a member of the National Assembly and the Trade, Industry, Energy, SMEs, and Startups Committee said at the ceremony, “Today’s MOU between Pacifico Energy Korea and HSG Sungdong Shipbuilding represents a significant milestone for the Korea-U.S. partnership on accelerating the green energy transition, following the 10th ROK-US Energy Security Dialogue”.