Atlantis signs Strategic Partnership Agreement with Hyundai
Atlantis announced that it has signed a SPA (Strategic Partnership Agreement) with Hyundai Engineering & Construction Co., Ltd for collaboration on the development of tidal range and floating offshore wind project internationally.
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.
Atlantis CEO, Tim Cornelius said that they are delighted to enter into this agreement with such a highly respected, substantial and experienced company like Hyundai E&C. They 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 their portfolio of tidal power projects in South East Asia. They want to leverage Hyundai’s expertise to accelerate existing projects and to secure additional capacity both in the region and globally.