STX Group Wins 300 Mln Euro Deal To Build Wind Farm

STX Group, a South Korean business conglomerate, said Wednesday that it has clinched a 300 million euro (US$428 million) order to build wind farms in eastern European nations including Poland, Romania, Hungary and Bulgaria, Yonhap news agency said Wednesday.

The group’s wind energy affiliate signed a memorandum of understanding (MOU) with a group of Polish companies, including Business Consulting Group and Green Energy, to supply the countries with 140 wind power turbines from 2010 to 2013.

The wind farms will have a capacity ranging from 40 megawatts to 120 megawatts.

In July this year, STX purchased a Dutch wind power turbine maker as part of group-wide efforts to diversify revenue sources.

STX Group, whose key affiliates include STX Offshore & Shipbuilding Co. and STX Pan Ocean Co., has been seeking to boost its wind power-related business.

The group is targeting 1.5 trillion won (US$1.26 billion) in wind power sales by 2015.

STX Corporation is a South Korean holding company engaged in the provision of trading services. Headquartered in Gyeongsangnamdo, South Korea, the Company operates its business through two divisions: trade and ship maintenance.

Its trade business division provides shipping and energy materials, coal, oil, steel and others. Its ship maintenance business offers cargo management, marine technical, insurance, crew management and other related services.