Original Korean article: Asia Economy
English brief by Korea Wind Intelligence, koreawindintel.com
Vivian announced on September 10 that it had signed a memorandum of understanding (MOU) with KWANGLIM on September 7 to cooperate in renewable energy business.
Under the agreement, Vivian will make strategic and financial investments in the eco-friendly energy development projects pursued by KWANGLIM and cooperate across all aspects of the business. The specific investment scale, method and timing will be determined after detailed due diligence, compliance with relevant laws and regulations, board approval and execution of a definitive agreement.
The core project is the Yeonggwang Future Offshore Wind Power Generation Project being pursued by KWANGLIM. This is a project to develop a 160-megawatt (MW) wind farm in the waters off Baeksu-eup, Yeonggwang County, South Jeolla Province, with a total of 11 wind turbines including ten 15MW units and one 10MW unit. The total project cost is approximately 1 trillion won.
