Masdar, KEPCO to partner on offshore wind, hydrogen, storage

Abu Dhabi-based renewables developer Masdar and Korea Electric Power Corp, KEPCO (KRX:015760) have agreed to jointly explore opportunities for projects in offshore wind energy, green hydrogen and battery storage technology.

A memorandum of understanding (MoU) was signed by Masdar's chief executive Mohamed Jameel Al Ramahi and his counterpart at KEPCO Seung-il Cheong in South Korea on Wednesday.

The scope of the cooperation includes KEPCO's pipeline offshore wind projects and Masdar's global renewables projects.

Apart from offshore wind, hydrogen and battery storage, the two companies will also study opportunities for cooperation in their energy trading operations.

The MoU is the latest of several green energy initiatives that Masdar revealed recently. The Abu Dhabi-based renewables developer will pursue the development of 4 GW of wind, solar and green hydrogen projects in Azerbaijan under a wider plan envisaging 10 GW of renewable energy capacity in the former Soviet republic.

Masdar has also teamed up with Japan's Sumitomo Corp (TYO:8053) and UAE's BEEAH Group to develop waste-to-energy projects in countries in the Gulf Cooperation Council (GCC).

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