Doosan Heavy eyes sales of W1tr from offshore wind power business by 2025

Doosan Heavy Industries & Construction said on Sunday that it plans to see its offshore wind power business generate around 1 trillion won ($831 million) in annual revenue by 2025.

In a statement, CEO Park Gee-won said his company would contribute to creating South Korea’s ecosystem for offshore wind power as a leading company in the field and pledged to be actively get on board with the government’s Green New Deal.

“The domestic market is expected to grow rapidly thanks to government measures for developing offshore wind power,” Park said.

During a visit to a wind farm in Buan, North Jeolla Province, on Friday, President Moon unveiled plans to raise the country’s wind power generation to 12 gigawatts by 2030. The country’s capacity currently stands at 124 megawatts.

Having begun its research on offshore wind power technology in 2005, Doosan Heavy Industries & Construction is currently the only company here that can solely manufacture offshore wind power generators. It has supplied 79 offshore wind power generators across the country, with the total amount of orders worth 660 billion won so far.

By Yim Hyun-su (hyunsu@heraldcorp.com)