RWE and Hyundai Engineering & Construction (Hyundai E&C), a subsidiary of South Korea’s Hyundai Motor Group, have signed a memorandum of understanding (MoU) to cooperate in the field of offshore wind and green hydrogen.

The partners said they will work together to jointly develop offshore wind projects in South Korea in line with the country’s Net Zero 2050 target and the government’s plan to increase renewable energy capacity to 108.3 GW by 2036, thereof 34.1 GW of wind capacity of which 24 GW are expected to be offshore wind.