NEWS
Jeonnam Attracted KRW 75 Billion in the Wind Power
Writer
administ
Posted at
2010-09-28
According to Yonhap News,
Jeonnam-do (South Jeolla Province) held an investment agreement signing ceremony with the participation of CEOs of two companies including Hanjin Shipping at the Jeonnam Provincial Office on September 13th. The investment is worth KRW 75 billion.
Hanjin Shipping agreed to invest KRW 50 billion and provide support in building an offshore wind farm by 2023, which is part of ‘Jeonnam 5GW Wind Power Project.’
Major projects are to secure ships to install a power generator, to carry and install equipment, to set up, maintain and repair subsea communication and power cables.
Hanjin Shipping President Kim Yeong-min said “we will secure the dominance of the world offshore wind power market by accumulating exclusive technologies and know-how in the service sector for constructing an offshore wind farm. Joining ‘5GW Wind Power Project’ will be instrumental for us.”
At the signing ceremony, Shilla Corporation agreed to invest KRW 25 billion to establish a production factory for slewing bearings, high-precision components for a wind power generator.
Shilla Corp. is equipped with world-class technologies to produce slewing bearings, and has signed supply contracts with wind power generator manufacturers in advanced countries such as the U.S., and Germany.
‘5GW Wind Project’ is to create a 5GW wind farm, which would fully utilize abundant wind in the southwestern region of Jeonnam. Currently, investment agreements worth KRW 16.3 trillion have been signed with 45 companies in power generation, equipment, and finance.
A SPC will be established within this month. The first phase of the project will break ground to lead the whole project until the end of this year.
Source Text
Source: Yonhap News (Sept. 13, 2010)
**This is an English translation of a Korean news article.
Jeonnam-do (South Jeolla Province) held an investment agreement signing ceremony with the participation of CEOs of two companies including Hanjin Shipping at the Jeonnam Provincial Office on September 13th. The investment is worth KRW 75 billion.
Hanjin Shipping agreed to invest KRW 50 billion and provide support in building an offshore wind farm by 2023, which is part of ‘Jeonnam 5GW Wind Power Project.’
Major projects are to secure ships to install a power generator, to carry and install equipment, to set up, maintain and repair subsea communication and power cables.
Hanjin Shipping President Kim Yeong-min said “we will secure the dominance of the world offshore wind power market by accumulating exclusive technologies and know-how in the service sector for constructing an offshore wind farm. Joining ‘5GW Wind Power Project’ will be instrumental for us.”
At the signing ceremony, Shilla Corporation agreed to invest KRW 25 billion to establish a production factory for slewing bearings, high-precision components for a wind power generator.
Shilla Corp. is equipped with world-class technologies to produce slewing bearings, and has signed supply contracts with wind power generator manufacturers in advanced countries such as the U.S., and Germany.
‘5GW Wind Project’ is to create a 5GW wind farm, which would fully utilize abundant wind in the southwestern region of Jeonnam. Currently, investment agreements worth KRW 16.3 trillion have been signed with 45 companies in power generation, equipment, and finance.
A SPC will be established within this month. The first phase of the project will break ground to lead the whole project until the end of this year.
Source Text
Source: Yonhap News (Sept. 13, 2010)
**This is an English translation of a Korean news article.