Four South Korean companies, led by Hyundai Heavy Industries (KSE:009540) and Hyosung Corp. (KSE:004800), will erect 100 wind turbines in that country by 2012 at a cost of some 900 billion won.
Hyundai and Hyosung will manufacture the wind turbines, which will be installed by construction firm Samhyop and operated by Korea Southern Power Co. (KSE:015760).
The turbines, which will be situated both on land and on sea, will have a combined output of 200,000kw.
The turbines, which will be situated both on land and on sea, will have a combined output of 200,000kw.
At present, 190 wind turbines are in operation in South Korea but most are foreign-made. The four companies are teaming up to reduce business costs and increase the number of domestically installed turbines by 50 per cent.
Anticipating that government emphasis on green policies in various countries will stimulate demand for alternative energies, they hope to gain experience in the field in preparation for a full-scale move into the international market for wind turbines in the future.
The global market for wind turbines is dominated by Denmark's Vestas Wind Systems A/S and U.S. firm GE Wind Corp.
quated from Nikkei
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