Cooperation with World's No. 1 Offshore Wind Power Company
POSCO Group will move forward with the green hydrogen business for Orsted, the world's number one offshore wind power company.
POSCO announced on May 26 that it has signed a memorandum of understanding (MOU) on comprehensive cooperation in the offshore wind power and green hydrogen business" in Korea with Denmark's Orsted. Orsted is currently pursuing a 1.6GW offshore wind power project in Incheon. It is a huge project that costs about eight trillion won.
Under the MOU, Orsted will develop offshore wind power projects and build green hydrogen production facilities in Korea. POSCO will supply steel products needed to build such offshore wind power plants and participate in green hydrogen production using wind power generation. POSCO E&C will be in charge of building offshore wind power structures while POSCO Energy will be tasked with storing green hydrogen and hydrogen generation.
In the future, POSCO will jointly conduct research and feasibility study on the entire offshore wind power generation and green hydrogen project in Incheon. It also plans to contribute to Korea’s conversion to hydrogen energy and the realization of decarbonization in Korea through comprehensive cooperation with Orsted.