CS Wind, the world's number one wind power tower company, announced on the 8th that it has signed a joint venture establishment contract with Vestas, the world's number one wind power generator and global leader in sustainable energy. Through this, the two companies will establish a domestic wind power generation production corporation, and are expected to respond to the demand for renewable energy in East Asia as well as the development of the Korean wind power business.
Through this new joint venture, the company plans to seek business opportunities to establish competitive production facilities for wind tower, blade, and a turbine assembly in the Korean market.
Tommy Rahbek Nielsen (COO, Chief Operating Officer) of Vestas said, “Korea has declared carbon neutral by 2050 based on an ambitious renewable energy policy, and recently announced a plan to build a world-class floating offshore wind farm. .” "We will actively contribute to the realization of Korea's renewable energy-related vision together with CS Wind, our long-time partner," he said.
Both companies have deep roots in Korea. Vestas has been doing business in Korea for the past 20 years, starting with the installation of the first V47-660kW turbine in 2001, and has been operating 25 wind farms with a power generation capacity of 600MW. Founded in Korea in 2006, CS Wind has grown into a global leader in the wind power tower field by expanding its market to Asia, Europe, and the United States.
CS Wind Chairman Gim Seong-Gon said, “I am very proud to announce the signing of a joint venture (joint venture) partnership with Vestas for the development of the Korean offshore wind market. The two companies have been in a relationship since the early days of CS Wind’s business, and we have supplied many wind power towers for Vestas’ global projects for a long time.” “Through the establishment of this joint venture, we will expand our cooperative relationship to enter the offshore wind power market in the Korean market in addition to Taiwan and Vietnam, where we are cooperating with Vestas. Offshore wind power will establish itself as a future blue ocean that will open new business opportunities for CS Wind as well as Korea.” He added.
Purvin Patel, Asia President, Vestas Asia Pacific said, “As Korea is one of the most important markets for us, we believe that it will grow into a wind power production base beyond the Asia Pacific region, leading to a major energy transition.” He said, “Korea is a country with a well-established supply chain, and we will further expand our supply chain and strengthen our competitiveness by strengthening our partnership with CS Wind. I look forward to working with more domestic companies.” said
As a global partner in the sustainable energy sector, Vestas provides integrated services from wind turbine design to production, installation and maintenance. In particular, the installed volume of wind turbines far surpasses that of other companies, and a total of 145GW of turbines have been installed in 85 countries around the world. By leveraging data based on industry-leading smart data capabilities and currently operating more than 123 GW of wind turbines, it interprets, predicts and develops wind resources to provide best-in-class wind solutions. In addition, more than 29,000 Vestas employees will continue to provide sustainable energy solutions for a brighter future together with customers.
CS Wind is a global leader in the field of wind power tower manufacturing, with production subsidiaries in Vietnam, Malaysia, China, Taiwan, Turkey, Portugal, and the United States. Founded in 2003, CS Wind has grown along with the growth of the onshore and offshore wind power markets, and has supplied numerous wind power towers to the global market. More than 3,600 CS Wind employees are all committed to creating a more sustainable world.
