Vestas Wind Systems A/S invest $300 Million in South Korea, Considering Relocation of Asian Headquarters from Singapore and Joint Venture with CS Wind

　　The world's largest wind turbine maker, Vestas Wind Systems A/S, Chief Executive Henrik Andersen announced that Vestas Wind would invest $300 million in South Korea on the sidelines of the World Economic Forum (WEF), also known as the Davos Forum in Switzerland on the 18th of January, and positively consider relocating its Singapore-based Asia-Pacific headquarters to Korea, and according to officials said, candidates for the plant site include coastal cities such as Ulsan and Mokpo.

　　Vestas is also considering a joint venture with Korean wind turbine tower manufacturer CS Wind Corp. CS Wind acquired full ownership of the world's largest tower manufacturing facility in the US from Vestas for $150 million last June. Korean President Yoon Suk-yeol was pleased to see "tangible results" from his meeting with Danish Prime Minister Mette Frederiksen the previous year.

　　The Davos Forum invited about 20 chief executives from Korean and multinational companies and heads of multinational firms; also five CEOs from the US from the financial industry, including the world's largest private equity firm, Stephen A. Schwarzman of Blackstone Inc., and Khaldoon Al Mubarak, chief executive of Mubadala Investment Co., a sovereign wealth fund in the United Arab Emirates (UAE), were invited.

　　During a summit meeting with President Yoon in Abu Dhabi, UAE President Mohammed bin Zayed Al-Nayhan said the country would invest $30 billion in Korea, led by the UAE's sovereign wealth funds, including Mubadala Investment.

Source: https://www.kedglobal.com/corporate-investment/newsView/ked202301190010
Chinese Translation: EnergyOMNI