HD Hyundai Signs MOU with Scottish Firms for Offshore Projects

South Korea's HD Hyundai Heavy Industries has entered into a memorandum of understanding (MOU) with Scottish Enterprise (SE) and Highlands and Islands Enterprise (HIE) to collaborate on floating offshore wind projects.

As part of the MOU, HD Hyundai will leverage its expertise in the design and production of floating offshore structures, as well as assist in optimizing the supply chain. SE and HIE will provide support in securing financial backing in Scotland and help connect with potential suppliers, manufacturing facilities, and investors.

HD Hyundai highlighted its strengths in adapting design and production strategies to the marine environment, a critical factor in offshore wind projects. "We are currently seeking ways to cooperate with various partners to develop the offshore wind power market, such as building production and supply infrastructure," a representative from HD Hyundai commented.

This collaboration is set to enhance the UK government's objective to increase offshore wind power capacity from 11GW in 2021 to 50GW by 2030. The MOU aligns with recent initiatives announced by Scottish First Minister Humza Yousaf, who has committed up to £500m ($622.6m) over the next five years to strengthen Scotland's offshore wind supply chain.