[Alpha Biz=(Chicago) Reporter Paul Lee] Hanwha Ocean has decided to expand its investment in offshore wind power with funds secured by paid-in capital increase.

Hanwha Ocean announced on August 13 that it will increase the total investment in offshore wind power from 200 billion to 300 billion.

First of all, Hanwha Ocean plans to secure technology to upgrade WTIV and large floating offshore wind power facilities through investment. In addition, it is drawing a blueprint to produce and transport hydrogen and ammonia using electricity obtained from offshore wind power generation and water obtained from desalination of seawater. The goal is to secure a value chain (value chain) that encompasses the production and transportation of carbon-free energy.

Hanwha Ocean is focusing on offshore wind power because of its bright market outlook. According to the European Union's major power generation forecast released by the International Energy Agency (IEA), the portion of land and offshore wind power generation is expected to continue to rise, beating solar and nuclear power by 2040.

 

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