Hyundai Heavy Industries Co., the world’s largest shipyard, plans to boost wind-power sales to as much as $1.7 billion by 2015. Wind-power capacity worldwide may rise 21 percent a year through 2014, according to the Global Wind Energy Council.
Hyundai Heavy is well positioned to grab demand in China as it will be the first among South Korean companies to build a plant in the fastest-growing wind market. Wind sales may take up 10% of the total by 2020. About 20 GW of new wind-power capacity may be installed in China in a year.
Global wind-energy capacity may increase 6.5 percent to 40.8 GW and may reach 409 GW in 2014.
Ulsan, South Korea-based company has a plant in Gunsan, about 220 kilometers south of Seoul, that can manufacture 300 units of 2 MW wind generators a year. It is building a second plant in China’s Shandong province under a venture with Datang Shandong Power Generation Co. to make wind-power equipment.The Chinese factory is expected to be completed in April and will have a capacity similar to the Gunsan plant.
Hyundai Heavy also plans to build wind farms in the U.S. and South America and may consider building plants in those countries.
Daewoo, the world’s second-largest shipyard, said last week it aims to generate 30 percent of its total sales from wind power in 2020. The company’s revenue from the business is expected to reach $25 million this year and $300 million in 2011.
Samsung Heavy, the world’s third-largest shipyard, is building a plant in South Korea to build wind turbines.
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