Original Korean article: 뉴시스
Hanwha Ocean is expanding its business scope to encompass the entire offshore wind power value chain, from power generation to equipment installation, operation, and electricity sales. The company established four new overseas subsidiaries in the first half of 2025 as part of this strategic expansion.
In Singapore, Hanwha Ocean established two subsidiaries focused on offshore wind turbine installation vessel (WTIV) ownership and operation: Ocean Wind Power Holdings and Ocean Wind Power 1. These entities will manage the company's WTIV assets and support offshore wind project development across global markets.
In March 2025, Hanwha Ocean amended its articles of incorporation to formally add renewable energy development, equipment installation and operation, power sales, and offshore wind project consulting to its business objectives. This regulatory change reflects the company's strategic pivot toward becoming an integrated energy solutions provider.
The expansion marks a significant diversification for Hanwha Ocean beyond its traditional shipbuilding and defense sectors. By establishing dedicated overseas entities and broadening its business mandate, the company is positioning itself to capture opportunities across the entire offshore wind industry value chain, from project development through operational management and power commercialization.
