Samsung Heavy seeks to launch wind power business

SEOUL, Nov. 21 (Yonhap) -- Samsung Heavy Industries Co., the world's second-largest shipbuilder, is preparing to launch a wind power business in an effort to diversify its portfolio, industry sources said Friday.
According to the sources, Samsung Heavy -- whose business interests range from
shipbuilding to construction -- is planning to develop offshore wind
power-generating facilities with a capacity of up to 5 megawatts.
Concerns are mounting that shipbuilding orders may fall drastically in coming
months due to a global economic recession.
In September, Hyundai Heavy Industries Co., South Korea's leading shipyard, said
it would invest 102 billion won (US$67.6 billion) in a plant that makes wind
power generators.
Hyundai Heavy is currently involved in a solar energy business project. The
company expects its sales of solar cells and solar modules to reach 1 trillion
won in 2010 on rising demand for alternative energy.
sam@yna.co.kr
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