POSCO Group (POSCO Holdings) said on the 26th that it signed a memorandum of understanding (MOU) with Ørsted, a Danish energy corporation, to jointly develop the Incheon offshore wind power project.
The signing ceremony was held on 24th at the POSCO Center in Gangnam, Seoul, and was attended by Lee Ju-tae, head of POSCO Holdings, and Per Mejnert Kristensen, Ørsted's Asia-Pacific head, among others.
POSCO Group expects that this cooperation, as governments push for a transition to renewables to decarbonize, will help expand national renewable energy adoption and accelerate the energy transition.
Through this agreement, POSCO Group will seek cooperation in areas such as supplying high-strength steel required for manufacturing offshore wind substructures and towers, building onshore infrastructure, EPCI (engineering, procurement, construction and installation) at sea, and operations and maintenance.
Ørsted, one of the world's largest offshore wind power corporations, obtained a generation business license for the Incheon offshore wind farm in 2023. Ørsted plans to form a group with POSCO Group to discuss detailed cooperation measures.
Lee Ju-tae, president of POSCO Holdings, said, "POSCO Group will pool its accumulated business capabilities and specialized know-how across the entire domestic offshore wind supply chain to help enhance the competitiveness of the national offshore wind industry and spread renewable energy."