Hexicon to manufacture floating wind platforms in Korea via new JV

Swedish engineering company Hexicon AB plans to transfer its floating wind platform technology to a new joint venture in South Korea, where it will offer serial production of locally-made units.

Korean integrated service provider COENS Co Ltd is the other party in the new joint venture. It has experience in working with oil & gas sector players and Hexicon believes that teaming up with it “is the winning formula for reaching the lowest cost of energy production in the floating wind power segment,” said Hexicon CEO Henrik Baltscheffsky.

The new entity will be named CoensHexicon Co Ltd and it will be pursuing opportunities in South Korea and other agreed markets, according to the announcement.

Hexicon’s platform can accommodate multiple wind turbines and because of the double capacity the company says its design offers competitive advantages in park formations resulting in lower costs per installed MW.

Choose your newsletter by Renewables Now. Join for free!