Shipyard group Daewoo Shipbuilding & Marine Engineering Co., which is running business in Romania through Daewoo Mangalia Heavy Industries, may build wind farm technology at a shipyard venture in Romania, depending on demand in Europe, according to a company representative quoted by Bloomberg.

Daewoo bought DeWind Inc. last year to access wind-farm technology and a turbine factory in the U.S. The company may build units at a shipyard venture in Romania, depending on demand in Europe, Koh said in an interview to Bloomberg.

The company aims to generate 30 percent of its revenues from wind power by 2020- which would be as much as USD 7.5 billion from about USD 25 million this year, according to Chief Strategy Officer Koh Young Youl.

“It’s a very ambitious target and it won’t be easy,” Koh said, quoted by Bloomberg. “Still, the market potential for wind power is very big, partly because there’s a lot of interest in going offshore as the space on land runs out.”

“Daewoo, which already makes turbines, may also run wind farms, build vessels for installing offshore units and open a generator factory in China as Korean shipbuilders seek new businesses to meet competition from Chinese yards,” according to the Bloomberg article.

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