Tidal power developer Atlantis has partnered with South Korea-based Hyundai Engineering & Construction to develop ocean power renewable projects across the globe.
The companies have signed a strategic partnership agreement (SPA) to develop domestic tidal stream market in South Korea and internationally as well as tidal range and floating offshore wind projects.
The companies will start the design and development of a 100MW tidal stream project in the south of Korea.
They will also advance the design, development and delivery of Atlantis’ tidal stream projects in South East Asia, including Indonesia and the Philippines.
In addition, the partnership will design cost effective foundations for tidal stream and offshore wind turbines and study opportunities to partner on the construction of tidal range projects across the globe.
Atlantis CEO Tim Cornelius said: “We are delighted to enter into this agreement with such a highly respected, substantial and experienced company like Hyundai E&C. We have very complementary skills and experience in the marine power sector.
“Hyundai is seeking to expand into the construction of offshore energy projects in South East Asia and abroad, while Atlantis requires construction partners to build out our portfolio of tidal power projects in South East Asia.”
“We want to leverage Hyundai’s expertise to accelerate existing projects and to secure additional capacity both in the region and globally.”
Hyundai is specialized in plant construction, power plant facilities construction, building works, nuclear power plant construction, as well as civil and environment works such as land development, marine and dredging works, highways, bridges, railways and water resources.