April 8 - Hyundai Heavy has signed an MOU to construct a wind turbine manufacturing plant jointly with Datang Shandong Power Generation Co., Ltd. and Weihai City Government.
With the MOU, Hyundai Heavy Industries, Korea's biggest wind turbine manufacturer is gearing up for entering the Chinese market that is emerging as the world's biggest wind turbine market, which will be good news for the project freight forwarders and shipping lines which have come to specialise in handling the heavy and out-of-gauge cargoes associated with these sorts of projects.
The joint wind turbine manufacturing plant will have an annual production capacity of 600MW (300 units of 2MW wind turbines). Hyundai Heavy plans to complete the plant by the end of this year and start manufacturing wind turbines from January 2011.
In a report by AWEA (American Wind Energy Association), China's wind turbine market is expected to grow to 100GW or USD 150 billion by 2020.