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Daewoo E&C Secures Exclusive Rights to Chinese Wind Turbine Installation Vessel

The partnership with CCCC bolsters Daewoo's offshore wind power projects, enhancing construction capabilities
South Korea
d 047040.KO Mid and Small Cap 2000
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Daewoo Engineering & Construction Co. has entered into a strategic partnership with China Communications Construction Company (CCCC), marking a significant step forward in South Korea’s offshore wind power sector. This collaboration grants Daewoo E&C exclusive domestic access to the “Gang Hang Ping 5,” a state-of-the-art wind turbine installation vessel (WTIV), for five years. This vessel, which is still under construction by CCCC, represents a pivotal resource for Daewoo E&C’s upcoming domestic offshore wind power projects.

The Gang Hang Ping 5 is designed for efficiency and capability, boasting a 30,000-ton weight, dimensions of 133 meters by 50 meters, and an 11-meter height. It’s equipped to lift, transport, and install the latest 15 MW-class offshore wind turbines, along with their blades and towers, directly onto the sea. The launch of this vessel, scheduled for December, underscores the growing importance of renewable energy infrastructure development.

In addition to securing the vessel, Daewoo E&C and CCCC will cooperate on supplying the necessary offshore equipment for future projects and pursue joint business opportunities. This agreement is a testament to Daewoo E&C’s commitment to expanding its portfolio in renewable energy, particularly in wind power. By establishing a specialized task force within its Civil Engineering Business Unit, the company aims to bolster its onshore and offshore wind power generation capabilities, promising a future of enhanced construction capacity and a stronger foothold in the renewable energy market.

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