BP & GIG Group to Invest Millions to Korea for Multiple Offshore Wind Farms
From：
Zhonglin International Group Date：11-24 988 Belong to：Industry Related
The South Korean Ministry of Industry and Resources (MOTIE) officially announced on Wednesday that Corio Generation, a UK-based offshore wind-farm project developer under GIG Group, and BP have officially submitted investment and development plans for South Korean wind-power projects, with a total investment of 1.16 billion US dollars.
In addition, this Tuesday, a South Korean delegation accompanying South Korean President Yoon Seok yeol's visit to the UK signed an agreement, and South Korean companies will also invest £ 21 billion (approximately $26.17 billion) in renewable energy and infrastructure projects in the UK. The UK and South Korea will actively cooperate in the field of renewable energy.
The above announcement was made during South Korean President Yoon Suk Yeol's state visit to the UK.
Currently, British company Corio Power is developing 8 offshore wind power projects with a total capacity of 2.9GW in South Korea; BP plans to invest in offshore wind power projects on the southern coast of the Korean Peninsula and expand its other investments in the renewable energy sector in South Korea.
The Ministry of Industry, Commerce, and Resources (MOTIE) of South Korea has stated that it is expected that related investments will increase the demand for wind power related equipment and components manufactured in South Korea, such as wind towers, steel structures, wind turbines, and power cables, which will also effectively drive the local economy and create employment.
In addition, this Tuesday, a South Korean delegation accompanying South Korean President Yoon Seok yeol's visit to the UK signed an agreement, and South Korean companies will also invest £ 21 billion (approximately $26.17 billion) in renewable energy and infrastructure projects in the UK. The UK and South Korea will actively cooperate in the field of renewable energy.
The above announcement was made during South Korean President Yoon Suk Yeol's state visit to the UK.
Currently, British company Corio Power is developing 8 offshore wind power projects with a total capacity of 2.9GW in South Korea; BP plans to invest in offshore wind power projects on the southern coast of the Korean Peninsula and expand its other investments in the renewable energy sector in South Korea.
The Ministry of Industry, Commerce, and Resources (MOTIE) of South Korea has stated that it is expected that related investments will increase the demand for wind power related equipment and components manufactured in South Korea, such as wind towers, steel structures, wind turbines, and power cables, which will also effectively drive the local economy and create employment.
