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Doosan Heavy Industries & Construction Co. (DHIC) will provide floating wind turbines to Korea National Oil Corp.'s floating offshore wind farm project in the East Sea, off the coast of Ulsan.
The project, announced by the government in July, will generate about 6 gigawatts of electricity per year.
With the global floating offshore wind power forecasted to grow up to 19 gigawatts annually, DHIC is eyeing 1 trillion won in annual sales in the segment.
DHIC has been reorganizing its business to focus on renewable energies after an infusion of 3 trillion won by its creditors.
Last month, DHIC and its German affiliate, Doosan Lentjes, will build a power plant using waste in Olsztyn, Poland under a 220 billion won deal with Polish energy company Dobra Energia.
The plant will convert 300 tons of waste into energy to provide 12 megawatts worth of electricity and heat to the area around it.
DHIC will be managing the plant's construction, which is set for completion by 2023.
DHIC's Czech subsidiary Doosan Skoda Power will provide a 12-megawatt small-sized gas turbine to the project.
According to DHIC, with the European Waste-to-Energy market's volume expected to grow 1.6 gigawatts by 2024, it will aggressively expand its presence in the segment.
