BayWa r.e. finds S Korean partner for 60-MW onshore wind project

German renewables developer BayWa r.e. AG has teamed up with Seoul-based paper manufacturer Hankuk Paper related to the development of a 60-MW wind farm project in South Korea.

The parties have sealed a Memorandum of Understanding (MoU) that will facilitate the partnership, BayWa said on Tuesday. The pact contains a land deal with Hankuk Paper which will enable the German firm to execute the project in North Gyeongsang Province, also known as Gyeongsangbuk-do, in the eastern part of South Korea.

Specific details about the contemplated project were not available in the press statement.

“A landmark project, it not only serves as the foundation for our own growth in South Korea but also as an integral part of Hankuk Paper’s overall vision for sustainable energy, while also contributing to the nation’s energy transition,” said YangHo Bae, managing director of BayWa r.e. South Korea.

BayWa r.e. entered the South Korean market in 2019 with the opening of a new office in Seoul. The German firm said it is actively pursuing onshore and offshore wind and solar development opportunities in the region as it aims to continuously expand its existing pipeline.

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