OMNI Features｜Taiwan's Green Harvest Holdings Emerges in Australia's Hydrogen Rush．Corio Generation Plans $1 Billion Investment in South Korean Offshore Wind Projects．Sumitomo and JGC Group Sign Agreement to Establish Mass Production Supply Chain for Floating Offshore Wind Components

(Source: Adobe)

｜Taiwan's Green Harvest Holdings Emerges in Australia's Hydrogen Rush
Taiwan's Green Harvest Holdings is emerging in Australia's hydrogen rush, competing with Japan and South Korea. The company aims to acquire shares in the hydrogen utility project H2U, which targets an annual production of 1 million tons of green ammonia by 2028, with expectations to increase to 4 million tons by 2033.

The Industrial Technology Research Institute predicts that by 2050, Taiwan will require 7.5 million tons of hydrogen and ammonia, with approximately 4.35 million tons of hydrogen and 3.15 million tons of ammonia. Domestic production will only account for 1.1 million tons of hydrogen, necessitating the importation of about 75% (3.25 million tons). Ensuring a stable hydrogen supply is crucial for Taiwan, and due to limited domestic production capacity, Taiwan is seeking international cooperation to secure supply.

Green Harvest states that Taiwan's semiconductor industry possesses world-class expertise in ultrapure water treatment, which can be applied to the hydrogen production process. The project is located at Gladstone, a deep-water port formerly used for coal exports, whose existing infrastructure provides a competitive advantage. However, Green Harvest calls for government support and suggests adopting a sovereign wealth fund-like approach to encourage private sector participation. The company asserts that Australia is a "friendly" investment destination for Taiwan, free from concerns of potential Chinese interference encountered in other regions, thus offering an advantage in securing energy supplies.

｜Corio Generation Plans $1 Billion Investment in South Korean Offshore Wind Projects
According to a report by the Korea Daily News (한국일보) on the 5th, Jonathan Cole, CEO of the British offshore wind company Corio Generation, stated that Corio plans to invest $1 billion (approximately 1.3 trillion KRW) in South Korea to promote 1 GW of fixed and 2 GW of floating offshore wind projects.

Cole managed offshore wind operations at the Spanish power company Iberdrola for 14 years starting in December 2007, before becoming CEO of Corio Generation in April 2022. He initiated offshore wind operations in South Korea three years ago and believes that South Korea's abundant marine resources can play a significant role in achieving renewable energy goals.

Corio established a subsidiary in South Korea in 2022 and in September of the same year, partnered with France's TotalEnergies and Korea's SK ecoplant to advance the "BadaEnergy Offshore Wind" project. Cole emphasized that South Korea possesses world-class infrastructure and technology in shipbuilding and marine engineering, as well as a robust supply chain, positioning it to become a leading offshore wind nation. However, he noted that South Korea currently lacks the support systems needed to develop the offshore wind market and called for enhanced cooperation with the supply chains of Japan, Taiwan, and China in the Asia-Pacific region to reduce costs and accelerate development.

｜Sumitomo and JGC Group Sign Agreement to Establish Mass Production Supply Chain for Floating Offshore Wind Components
On July 26, 2024, Sumitomo Corporation and JGC Corporation signed a collaboration agreement to explore the potential for joint production of key components for floating offshore wind (FOW). Sumitomo Corporation and JGC Corporation, along with approximately 20 shipbuilding and steel manufacturing companies, plan to jointly mass-produce key components for floating offshore wind power. The objective is to produce 100 floating platforms annually by 2030. Leveraging their respective strengths, both parties will establish a supply chain in critical areas such as detailed design, manufacturing management, and transportation to reduce costs, improve efficiency, and achieve large-scale production.

Global floating offshore wind capacity is expected to increase from approximately 0.2 GW in 2022 to 269 GW by 2050, with around 800 units added annually. Given Japan's lack of shallow coastal areas, floating wind is more suitable for its environment. As market demand grows, the current supply chain for floating components may not keep pace, posing a development bottleneck. By developing mass production technology and rebuilding the domestic wind power supply chain, Sumitomo and JGC aim to meet the anticipated growth in demand for floating wind power.

According to data from the Mitsubishi Research Institute, by 2050, Japan's potential area for floating wind power will reach 1,477 GW, which is 20 times more than fixed type. The Japanese government aims to achieve 10 GW of offshore wind power by 2030 and 30-45 GW by 2040. While fixed type will be the primary focus until 2030, the 2040 target will require the introduction of floating offshore wind power. The new consortium, including Oshima Shipyard and over 20 domestic and international companies, will collaborate to explore platforms suitable for mass production. Initially, products will be exported to Europe to accumulate achievements, aiming to supply domestically.

Reference: digitimes｜Korea Daily News｜Sumitomo Corp