Atlantis Resources has formed a strategic partnership with South Korean offshore construction giant Hyundai Engineering & Construction for the development of ocean energy 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.
The initial objectives under the strategic partnership is to start the design and development of a 100MW tidal stream project in the south of Korea.
Also, the companies will progress the design, development and delivery of tidal stream projects Atlantis is pursuing in South East Asia, such as those in Indonesia and the Philippines, and explore opportunities to partner on the construction of tidal lagoon and barrage projects globally.
Tim Cornelius, CEO of Atlantis, said: “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.”
The two parties will also work on the design of cost effective foundations for tidal stream and offshore wind turbines.