Hyundai Engineering & Construction is joining forces with Hyundai Steel to develop a proprietary floating offshore wind technology, combining their strengths in a bid to secure an early foothold in a fast-emerging energy market.
According to Hyundai E&C on Sunday, the partners signed a joint research agreement Friday at Hyundai Steel's steelworks in Dangjin, South Chungcheong Province, committing to co-develop an offshore wind floater and seek international certification.
Unlike fixed turbines, floating platforms can be deployed in deeper waters where stronger winds drive higher energy yields, with capacity projected to reach 250 gigawatts by 2050 in a market worth more than $1 trillion, the company explained.
The collaboration centers on a hybrid floater that combines specialty steel with concrete, with Hyundai E&C taking the lead on engineering and modular fabrication while Hyundai Steel focuses on developing and validating the specialized steel grades for the marine environment.
By trimming steel consumption through structural optimization and leaning on modular construction techniques, the partners are aiming to cut fabrication costs by 20 percent without compromising structural integrity.
Hyundai E&C said the two companies have already filed a joint patent on the technology.
The research will move through conceptual and basic design phases in pursuit of an optimal design, before seeking approval in principle from internationally accredited classification bodies such as Det Norske Veritas.
"In floating offshore wind, the ability to design the floater is what separates the contenders from the rest," a Hyundai E&C official said. "Through this joint research, we will build proprietary technology and sharpen our edge in global offshore wind engineering, procurement and construction.”
minmin@heraldcorp.com
