In order to construct an offshore wind hub in Mokpo City, Jeonnam Province, South Korea, Vestas has inked a memorandum of understanding (MoU) with A.P. Moller-Maersk, Jeonnam Province, and Mokpo City.

As per the Memorandum of Understanding, the concerned parties would collaborate towards the establishment of an offshore wind turbine nacelle manufacturing factory and logistical base at the Mokpo New Port Hinterland Complex. The plan is contingent upon Vestas's volume award and the growth rate of the market.

In the Memorandum of Understanding, Vestas states that it would look into joint venture possibilities with regional vendors of offshore wind turbine parts.

Furthermore, by employing local people and collaborating with local businesses, Vestas and Maersk hope to bolster the regional economy. Jeonnam Province and Mokpo City will give the administrative and monetary assistance required to set up a sustainable supply chain.

The MoU comes after Vestas previously declared that it will look into partnering with CS Wind to construct wind turbine manufacturing facilities in Korea.

"Vestas is grateful for the cooperation of Jeonnam Province, Mokpo City, and Maersk. As we work together to develop and establish a competitive and sustainable offshore wind supply chain in South Korea, we look forward to carrying on our strong collaboration.

"South Korea has the potential to become a hub for offshore wind energy acceleration because to its prospective offshore wind market. The arrangement comes after our recent commercial traction and our strong technical offering with the V236-15 MW wind turbine, according to Vestas Chief Operating Officer Tommy Rahbek Nielsen.