Seoul, Dec. 24 -- Hanwha Ocean, Hyundai E&C win offshore wind project to build a large power farm in the sea, securing an engineering, procurement, and construction contract. This major move marked the formal entry of Hanwha Ocean into the offshore wind power sector. The company secured a big contract to design, buy materials, and build the project.

As per a report by Pulse, the English service of Maeil Business News Korea, the companies signed the agreement on Tuesday. The total value of the entire project reached 2.64 trillion won (USD 1.79 billion). This amount is equal to about 1.80 billion dollars. Hanwha Ocean took a large portion of this work. The company announced that "Hanwha Ocean's share of the contract amounts to 1.97 trillio...