In the context of the accelerated transformation of the global energy industry, many countries are seeking energy cooperation to promote the development of new energy. The Ministry of Trade, Industry and Energy of South Korea stated on June 16 that with President Moon Jae-in’s state visit to Spain as an opportunity, companies from South Korea and Spain have reached a series of cooperation in the development of new energy businesses.

According to the Ministry of Industry, Spanish renewable energy companies have decided to establish a 1.2GW stationary offshore wind power park in Incheon, with an initial investment of US$100 million. EDPR will invest US$100 million to build a solar power station (200MW) in Jeonnam and submit an investment application to KOTRA.

At the same time, GS Energy signed a memorandum of understanding (MOU) in Madrid for joint investment in renewable energy with Iberdrola, the world's second largest renewable energy company and Spain's largest power company.

The two companies will adapt to the transformation of energy models, use renewable energy as a future growth driver, and plan to jointly develop solar and onshore and offshore wind power generation businesses in South Korea and throughout Asia.

The cooperation between South Korea and Western countries related to energy technology will also continue. The "MOU for Industrial Technology Cooperation in the Energy Field" signed by the Korea Energy Technology Evaluation Institute and the Spanish Industrial Technology Development Center (CDTI) in November 2017 will be extended to 2025.

Moon Jae-in expressed his hope to strengthen technical cooperation with Spain, a leading country in the field of renewable energy, and create substantive results. Editor/Xu Shengpeng