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Hyundai signs tidal power deal

Hyundai has struck a partnership deal with a leading tidal power company to advance clean energy projects in South Korea and globally.

Its new partner, Atlantis Resources, is the company behind the world’s first ever large-scale tidal stream farm, the MeyGen project off the north coast of Scotland, which it says will be ‘transformational for the tidal energy industry’.

The pair will work together on developing floating wind turbine and ocean projects for the South Korean and international markets.

“We are delighted to enter into this agreement with such a highly respected, substantial and experienced company like Hyundai Engineering & Construction. We have very complementary skills and experience in the marine power sector.  Hyundai is seeking to expand into the construction of offshore energy projects in South East Asia and abroad, while Atlantis requires construction partners to build out our portfolio of tidal power projects in South East Asia. We want to leverage Hyundai’s expertise to accelerate existing projects and to secure additional capacity both in the region and globally,” said Tim Cornelius, CEO of Atlantis.

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