□ Doosan Heavy Industries & Construction, which has the largest track record of offshore wind turbine installations in Korea, is stepping up efforts to expand its wind turbine manufacturing capacity.

□ Doosan announced on March 26 that it had completed construction of the Wind Turbine Shop #2 at its headquarters in Changwon to effectively prepare for the increasing number of orders for offshore wind turbines and the manufacturing of 5.5MW wind turbines. The assembly of the nacelles and hubs, the key components of offshore wind turbines, and performance testing will take place at the shop.

□ With the existing Wind Turbine Shop #1 and the opening of Wind Turbine Shop #2, Doosan is now in a position to produce 30 units of offshore wind turbines annually. The Wind Turbine Shop #2 will be applying the digital smart factory, which will help facilitate more efficient production and quality management. Since renaming the Renewable Energy Business Unit as the Wind Power Business Unit last December, Doosan has been quickly expanding its offshore wind power business by creating new teams and increasing the manpower.

□ "The opening of the Wind Turbine Shop #2 enables Doosan to cope with the rapidly growing offshore wind power market in Korea and respond proactively to the rising demand for large-scale wind turbines. As we expect the market to grow further, we intend to strengthen the virtuous mutual growth system we have with our local partners and lead the promotion of the wind power industry in Korea,” said Inwon Park, CEO of Doosan Heavy’s Plant EPC BG.

□ Having launched the offshore wind power business in 2005, Doosan Heavy currently owns 3MW and 5.5MW offshore wind turbines and has plans to launch its 8MW model in 2022. Doosan has quickly raised the local manufacturing rate of its wind turbine parts from the initial 30% to over 70%. It is currently cooperating with more than 400 local suppliers in Korea, with part orders worth approximately KRW 100 billion having been placed over the past year.

□ Plans are in place to have new offshore wind turbines with a combined generation capacity of about 12GW installed in Korea in line with the South Korean government’s Renewable Energy 3020 policy. The required investment is forecast to be about KRW 66 trillion for construction of the wind farms and KRW 46 trillion for operation of the wind farms over the next 20 years after construction.