Hyundai Heavy Industries Co. announced Wednesday that it signed a contract to supply eight wind-power generators to a Finnish power company.
According to Hyundai Heavy, this is the first time a Korean company has been contracted to supply wind-power generating equipment to a European country.
Under the contract, Hyundai Heavy will deliver eight 2-megawatt wind-power generators to Finnish Power to be used at the wind-power cluster being built near the town of Hamina in southeastern Finland, the company said.
The shipbuilder said that the contract provides a foothold for the company in Europe’s fast-growing wind-power market. According to Hyundai Heavy, members of the European Union are required to generate 20 percent of their electricity from renewable sources by 2020.