Hanwha signs MOU with Alberta to expand energy, defense and shipbuilding cooperation

Hanwha Group and Alberta government officials pose for a photo during an MOU signing at the Alberta Legislature Building in Edmonton on April 21 (local time). — Hanwha Group and Alberta government officials pose during an MOU signing at the Alberta Legislature Building in Edmonton on April 21 (local time). [Photo=Hanwha]

Hanwha Group said it will strengthen cooperation with the government of Alberta across key industries including energy, defense and shipbuilding.

The group said April 22 it plans to systematically expand local industrial partnerships and broader economic cooperation, linked to Hanwha Ocean’s bid for Canada’s Canadian Patrol Submarine Project, or CPSP.

Hanwha signed the memorandum of understanding April 21 (local time) at the Alberta Legislature Building in Edmonton. Attendees included Alberta Premier Danielle Smith, Minister of Jobs, Economy and Trade Joseph Schow, South Korean Ambassador to Canada Lim Ki-mo and Hanwha Energy CEO Lee Jae-gyu.

The two sides agreed to pursue joint, mid- to long-term investment and industrial ecosystem development with Alberta as a base, beyond individual projects. Hanwha Energy, Hanwha Ocean, Hanwha Aerospace and Hanwha Power will take part, expanding cooperation in oil, liquefied natural gas, hydrogen, carbon capture and storage, and defense and shipbuilding supply chains.

Hanwha said the MOU focuses on a shift to low-carbon energy, industrial growth and stronger supply-chain stability. In the near term, the sides plan to expand trade in resources such as natural gas. Over the mid to long term, they aim to broaden cooperation to hydrogen- and ammonia-based clean energy and carbon-management infrastructure.

Hanwha also said it will support efforts aligned with Canada’s Defence Industrial Strategy, including building independent industrial capabilities, strengthening maintenance and operations capacity, and developing a region-based defense industrial ecosystem. Alberta is attracting about $6.5 million in investment from the federal government as it grows into a defense manufacturing hub.

Smith said, “Alberta is a global business hub, and this agreement with Hanwha Group shows our competitiveness as a destination for international investment.”

Lee said, “This MOU has elevated our cooperative relationship with Alberta,” adding that the group will “bring together its capabilities to deliver tangible results across a range of fields.”

Hanwha said it is mounting a groupwide effort to win the Canadian submarine project. Earlier, Hanwha Ocean CEO Kim Hee-cheol visited Halifax on April 14 and discussed defense and industrial cooperation with officials from Nova Scotia.

* This article has been translated by AI.

SHIN JIA