South Korea says 6 European firms to invest $929 mln in wind power, batteries
21/06/2023 10:50
SEOUL, June 21 (Reuters) - Six European companies will
invest in projects worth a total of 1.2 trillion won ($929.27
million) in South Korea, spanning areas such as batteries and
renewable energy, the country's industry ministry said in a
statement on Wednesday.
The ministry's announcement came as South Korean President
Yoon Suk Yeol visited France this week.
The companies - Imerys IMTP.PA , Umicore UMI.BR ,
Continental CONG.DE , Nylacast, Copenhagen Infrastructure
Partners (CIP) and Equinor EQNR.OL - will invest in fields
including batteries, automotive materials and offshore wind
power, the ministry said.
CIP plans to invest $350 million in gigawatt-scale offshore
wind projects to support South Korea's ambitious wind power
target, CIP said in a statement.
Equinor said the investment is a reinforcement of its
interests in Korea, in which its 'Firefly' renewables project
located offshore the city of Ulsan will have a capacity of
approximately 800 megawatts when commissioned around 2028,
although it has yet to make a final investment decision.
Other companies did not immediately respond to a request for
comment.
There were no further details on how much each company
intended to invest or whether any projects had been previously
announced.
Yoon is due to travel to Vietnam later this week for a
three-day state visit.
($1 = 1,291.3400 won)
(Reporting by Joyce Lee
Editing by Ed Davies)
((joyce.lee@tr.com;))