Joint consortium formed with POSCO E&C
Total capacity of 76.2 MW by June 2030
Wind turbine maker Unison (018000.KS) said on the 27th that it has signed an engineering, procurement and construction contract for the Gochang offshore wind power project, teaming up with POSCO E&C in a joint consortium for the order placed by Dongchon Wind Power.
The Gochang offshore wind project will build a 76.2-megawatt offshore wind complex in waters near Sangha-myeon and Haeri-myeon in Gochang County, North Jeolla Province. Unison will supply 12 wind turbines rated at 6.35 MW each.
The total EPC contract is valued at 297.38 billion won, of which Unison's portion is 99.287 billion won, or about 33.4%. That figure equals roughly 246% of the company's revenue last year. The contract runs from the previous day through June 18, 2030.
Unison and POSCO E&C will carry out the project under a division-of-work arrangement, with Unison responsible for supplying the turbines and POSCO E&C handling offshore and onshore construction. Payments will be made in stages tied to project milestones, starting with the contract signing and continuing through delivery of major equipment and completion of test operations.
Unison said it plans to deliver the turbines in line with the contract schedule and the project timetable, while working with its consortium partner and other participants to keep the project on track. The company also said it intends to build up a supply record and project experience in offshore wind through the deal, strengthening its position to bid for future offshore wind projects in South Korea.
"To expand the experience and foundation we have built in onshore wind into offshore wind, it is important to take part in a range of projects and continuously accumulate supply records and execution experience," a Unison official said. "We will carry out the Gochang offshore wind project without setbacks and secure a bridgehead into the offshore wind market."
