Gulf Oil and Gas accountACCOUNT

Atlantis Resources Signs Strategic Partnership Agreement with Hyundai

Source: www.gulfoilandgas.com 5/12/2017, Location: Asia

Share |
Atlantis, a global leader in the tidal power generation sector, announces that it has signed a Strategic Partnership Agreement (SPA) with South Korean offshore construction giant Hyundai Engineering & Construction Co., Ltd (Hyundai) regarding collaborating on the development of ocean power renewable projects globally. The particular focus for the collaboration is on the development of the domestic tidal stream market in South Korea and internationally as well as tidal range and floating offshore wind projects.

Hyundai is a major construction company specialising in plant construction, power plant facilities construction, building works, nuclear power plant construction, civil and environment works including infrastructures such as land development, marine and dredging works, highways, bridges, railways and water resources.

Although the SPA is global and wide-reaching the initial objectives are to: - initiate the design and development of a 100MW tidal stream project in the south of Korea;
- progress the design, development and delivery of tidal stream projects Atlantis is pursuing in South East Asia, such as Indonesia and the Philippines;
- design cost effective foundations for tidal stream and offshore wind turbines; and
- explore opportunities to partner on the construction of tidal range (barrage and lagoon) projects globally.

Tim Cornelius, CEO of Atlantis, commented:

“We are delighted to enter into this agreement with such a highly respected, substantial and experienced company like Hyundai E&C. We have very complementary skills and experience in the marine power sector. Hyundai is seeking to expand into the construction of offshore energy projects in South East Asia and abroad, while Atlantis requires construction partners to build out our portfolio of tidal power projects in South East Asia. We want to leverage Hyundai’s expertise to accelerate existing projects and to secure additional capacity both in the region and globally.”

Renewable Energy News in South Korea >>

Iran >>  5/29/2017 - Iran will sign a $4 billion deal with France’s Total to develop phase 11 of the giant South Pars gas field before summer, Minister of Petroleum Bijan ...
Azerbaijan >>  5/23/2017 - Azerbaijan’s oil supply forecast for 2017 remained unchanged with a contraction of 70 tb/d to average 0.78 mb/d, while oil production in 2016 declined...

Singapore >>  5/19/2017 - The Board of Directors of Pacific Radiance Ltd. announces that on 19 May 2017, its wholly owned subsidiary, Crest Offshore Marine Pte. Ltd. Has enter...
China >>  5/3/2017 - Following a drop encountered the previous month, China’s crude oil imports increased in February to stand at 8.3 mb/d, up by 273 tb/d or 3% from the p...

Related Categories: Biomass Energy  General  Geothermal Energy  Hydropower  Photovoltaic Solar Energy  Solar thermal Energy  Wind Energy 

Related Articles: Biomass Energy  General  Geothermal Energy  Hydropower  Photovoltaic Solar Energy  Solar thermal Energy  Wind Energy 


South Korea Oil & Gas 1 >>  2 |

More News

 

Oil & Gas Companies in South Korea >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.