South Korean heavy industry company Hyundai Heavy has signed a memorandum of understanding (MOU) with Chinese energy company Datang Shandong Power Generation Co. Ltd, a subsidiary of Datang Group, and with Weihai City government to construct a joint wind turbine manufacturing plant in Weihai, Shandong, China.
The plant will be 80 percent owned by Hyundai Heavy and 20 percent by Datang Shandong Power Generation. Detailed investment from both companies will be decided through further discussion.
The wind turbine manufacturing plant, covering a surface area of 231,404 m2 at Weihai, Shandong Province, and having a high demand for steel, will have an annual production capacity of 300 units of 2MW wind turbines. Hyundai Heavy plans to complete the plant by the end of this year and to start manufacturing wind turbines from January 2011.