Hyundai Heavy funding a wind power farm of 200 MW in Korea

Hyundai Heavy, along with state-run Korea Southern Power Co. and several other firms, is expected to invest some 500 billion won ($446 million) by 2012 in the wind energy project.

The exact site for the wind farm has yet to be decided, officials from the company said.

Hyundai Heavy built a plant last year that produces wind power generators as part of efforts to diversify its business portfolio.

Hyundai Heavy is also involved in the solar energy business.

The shipbuilder spent 34 billion won to build its first solar-cell producing plant and plans to spend 300 billion won to build a second factory this year.

The company expects sales of solar cells and solar modules to reach 1 trillion won in 2010 on rising demand for alternative energy.

And in June, American Superconductor made a deal to license the design for its FC-2000 turbine, also a 2 MW system, to Taipei, Taiwan’s Teco Electric & Machinery. Teco purchased the right to manufacture and sell the turbines in Taiwan and in mainland China (see American Superconductor, Teco in wind turbine deal).

American Superconductor is likely to see orders coming in for the core electrical components of the turbines under most these deals starting next year.

Hyundai Heavy Industries (HHI) signed a contract with Wave Wind, LLC to provide six 1.65MW wind turbines on September 30. The companies also agreed to expand cooperation in the 100MW capacity wind turbine project.

The wind turbines will be produced in HHI’s Gunsan wind turbine factory and installed in Milwaukee, Wisconsin by May 2010.

The rotor diameter is 77m and hub height is 80m. The six wind turbines will generate 10MW electricity, enough for 5,000 households.

HHI has invested 105.7 billion won to build a 600MW capacity wind turbine manufacturing plant in Gunsan. The plant, covering 132,000 square meters, will be capable of producing 1.65MW-class wind turbines. HHI plans to expand the capacity to 800MW by 2013.

HHI plans to export most of the wind turbines produced in this factory to the United States and Europe.

HHI produced its first generator for wind turbines in 1988 and has exported in-house developed transformers and converters for wind power plants to the US and European countries.

The company cites renewable energy businesses such photovoltaic systems and wind turbines as its growth engine for next generation.