Recently, Electric Wind Power is planning in-depth cooperation with South Korea's Hyosung Heavy Industries, and the plan is to establish a wind turbine production base in South Korea. This project is expected to be implemented in Changwon City, Gyeongsangnam-do Province, where Hyosung Heavy Industries is located. The cooperation between the two sides covers the joint production of high-power wind turbines with capacities of 8.5MW and 16MW, and they are considering further deepening the cooperation through technology transfer to enhance local production capabilities and product competitiveness. In order to effectively control costs and improve the cost-performance ratio of products, a large number of components imported from China will be used in the wind turbines produced through this cooperation. This not only helps to integrate the resources of the global industrial chain but also, by leveraging China's mature wind power equipment manufacturing system, ensures the dual advantages of products in terms of price and performance, so as to better meet the demand for wind power equipment in South Korea and the surrounding markets.

According to the plan, Electric Wind Power and Hyosung Heavy Industries will officially establish a joint venture company in South Korea in June 2025 to promote the localization strategy of wind turbine production. This will be another important case of transnational cooperation following the establishment of a joint venture company by Mingyang Smart Energy and South Korea's Unison in September 2024, which focused on the production of 6MW, 11MW, and 14MW wind turbines, further highlighting the technical output and industrial coordination capabilities of Chinese wind power enterprises in the global market. In fact, Electric Wind Power and Hyosung Heavy Industries have a long history of cooperation. As early as 2021, the two sides announced that they would jointly invest to establish a special purpose company (SPC) named "HSE Wind". In July 2023, they jointly launched the work of obtaining the Korean Industrial Standard (KS) certification for 10MW offshore wind turbines, laying a solid foundation for the products to enter the South Korean market. However, affected by the startup rhythm of the South Korean wind power market, the process of establishing the joint venture company was delayed. It was not until December 2024 that the senior management of Hyosung Group and Shanghai Electric Group met again and reached a new consensus on cooperation in the fields of offshore wind turbines and heavy industry, restarting and accelerating the pace of cooperation between the two sides in the wind power industry. If this cooperation is successfully implemented, it will strongly promote the development of South Korea's wind power industry and help it achieve the goal of energy transformation. At the same time, it also provides an important opportunity for Electric Wind Power to expand overseas markets and enhance its international brand influence.(This article is from the official website of Seetao.com, www.seetao.com. No reprinting is allowed without permission. Otherwise, legal liability will be pursued. If reprinting, please indicate Seetao.com + the original text link.) Editor of the Strategic Column of Seetao.com / Yin Shiqian