Issued on: June 16, 2021

 

During President Moon Jae-in’s visit to Spain (June 15-17), Korea and Spain agreed to strengthen business cooperation in the green and digital sectors at the Green & Digital Forum held in Madrid, on June 16 (local time).

 

President Moon proposed that the two countries ramp up investments in renewable energy and green mobility, encourage digital cooperation to improve industrial competitiveness, and expand partnership in construction and infrastructure at emerging markets.

 

A Spanish renewable energy firm Ocean Winds announced its plans to invest $100 million in the construction of a 1.2GW offshore wind farm in Incheon, and another renewable energy firm EDPR decided to invest $100 million to build a 200MW solar power plant in Goheung.

 

Trade, Industry and Energy Minister Moon Sungwook said that he expected the investment cooperation to boost regional economies in Korea and lead to further mutual investment in renewable energy between the two countries.

 

Korea Institute of Energy Technology Evaluation and Planning and Centro para el Desarrollo Tecnológico Industrial (CDTI) renewed a memorandum of understanding (MOU) to extend the period of cooperation in joint R&D projects related to clean energy.

 

Minister Moon stressed that since technological innovation in the energy sector is essential for carbon neutrality, R&D cooperation in solar, wind, hydrogen power and energy efficiency is important, and expressed hope that technological cooperation with Spain, a global leader in renewable energy, will generate substantial outcomes and promote business partnerships.