South Korea says 6 European firms to invest $929 million in wind power, batteries

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South Korea says 6 European firms to invest $929 million in wind power, batteries
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SEOUL : Six European companies will invest in projects worth a total of 1.2 trillion won ($929.27 million) in South Korea, spanning areas such as batteries and renewable energy, the country's industry ministry said in a statement on Wednesday. The ministry's announcement came as South Korean President Yoo

SEOUL : Six European companies will invest in projects worth a total of 1.2 trillion won in South Korea, spanning areas such as batteries and renewable energy, the country's industry ministry said in a statement on Wednesday.The companies - Imerys, Umicore, Continental, Nylacast, Copenhagen Infrastructure Partners and Equinor - will invest in fields including batteries, automotive materials and offshore wind power, the ministry said.

CIP plans to invest $350 million in gigawatt-scale offshore wind projects to support South Korea's ambitious wind power target, CIP said in a statement. Equinor said the investment is a reinforcement of its interests in Korea, in which its 'Firefly' renewables project located offshore the city of Ulsan will have a capacity of approximately 800 megawatts when commissioned around 2028, although it has yet to make a final investment decision.There were no further details on how much each company intended to invest or whether any projects had been previously announced.

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