Posted on February 11, 2026
A South Korean offshore and marine contractor has clinched a deal to build the country’s first installation vessel able to install 15MW offshore wind turbines.
Hanwha Ocean clinched the newbuild contract to build a wind turbine installation vessel (WTIV) for its affiliate Ocean Wind Power 1.
Hanwha, formerly Daewoo Shipbuilding & Marine Engineering, said in a social media post on Friday that the vessel is scheduled for delivery in the first half of 2028.
It will be South Korea’s first WTIV capable of installing 15 megawatt-class large-scale offshore wind turbines and is expected to be the largest WTIV operating domestically.
The 768.7 billion won (US$523 million) vessel is intended to be deployed on priority domestic offshore wind projects, including the Shinan Ui project.
The Shinan Ui wind power project is a 390MW project led by Hanwha with the engineering, procurement and construction contract last year signed jointly with compatriot Hyundai Engineering & Construction.
Hanwha on 28 November delivered its second WTIV, Wind Mover, for Cadeler, following the first such delivery in January 2025.
Both vessels were completed one month ahead of schedule, the company said in a social media post.
The South Korean contractor to date has delivered four WTIVs.
South Korea intends to reach a cumulative offshore wind capacity of 10.5GW by the end of the decade, including projects that are either installed or under construction.
The government last year flagged a lack of adequate ports and an absence of specialised vessels among the factors that have held South Korea’s offshore wind sector back, along with financing challenges, complex permitting procedures and local acceptance issues.
