Vision In The Wind Energy Market Turns Farmer's Son Into The World's Largest Wind Turbine Tower Manufacturer

Vision In The Wind Energy Market Turns Farmer’s Son Into The World’s Largest Wind Turbine Tower Manufacturer

Written by Flavia Marinho

Published on 13/02/2021 at 14:23

Be the first to react!

Entrepreneurial Vision in the Wind Energy Market Makes Farmer’s Son a Billionaire and Owner of the World’s Largest Wind Tower Manufacturer

The farmer’s son, Gim Seong-gon, managed a steel plant in the late 1980s when he became fascinated with wind energy. The businessman, who was born into a simple home, had an entrepreneurial vision and saw growth potential in this area and took action. Good news, General Motors, the vehicle manufacturing multinational, announces a billion-dollar investment in factories in São Paulo

Read Also

His CS Wind became the world’s largest manufacturer of wind towers after an injection of capital from Goldman Sachs Group. CS Wind’s shares surged over the last four years, and last year the stock price quintupled. Expectations are even higher with the change of government in the U.S.

Gim Seong-gon, now 67 years old, has become one of the richest individuals in South Korea. According to Bloomberg data, his 51% stake in the family-controlled company is valued at US$ 1.4 billion,

ARTICLE CONTINUES BELOW

Goldman Investment in CS Wind’s Wind Tower Factory

In order to take advantage of cheaper labor, Gim set up the first CS Wind wind tower factory in Vietnam in 2003. In just 5 years, the businessman received an investment of 47.2 billion won (US$ 43 million) from Goldman Sachs, which helped expand operations to seven countries.

Currently, CS Wind also operates factories in Malaysia, China, and the United Kingdom and sells its wind towers to clients such as Siemens Gamesa Renewable Energy, General Electric, and Vestas Wind Systems.

The company plans to expand and build factories in the U.S., where the current government has committed to prioritizing suppliers with local facilities.

“Running a business means constantly finding new goals,” Gim said in an interview with an internal publication in 2014. “When a goal is achieved, you must move on to another. That’s how I managed the business.”

Investments in low-carbon energy technologies and projects more than doubled in the last decade to US$ 501.3 billion last year, with two-thirds in renewable energy, primarily solar and wind, according to a report released by BloombergNEF in January.

Vision In The Wind Energy Market Turns Farmer’s Son Into The World’s Largest Wind Turbine Tower Manufacturer

Entrepreneurial Vision in the Wind Energy Market Makes Farmer’s Son a Billionaire and Owner of the World’s Largest Wind Tower Manufacturer

Read Also

Goldman Investment in CS Wind’s Wind Tower Factory

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

How much does it cost to make a radier? A shallow foundation can speed up the construction and reduce stages, but poorly compacted soil, excess load, and design errors can turn the concrete slab into cracks, structural settlements, and much higher expenses later on.

Senai will pay for you to take a course: in partnership with Petrobras, the program offers 4,000 free spots in technical courses with a certificate recognized by the MEC and a monthly allowance of up to R$ 800 to train professionals for the Brazilian industry.

Brazil exports 1.5 million tons of beef to China, but the tariff-free quota covers only 1.1 million, and now the government is rushing to renegotiate the cap before the sector pays a 55% tax on nearly 400,000 tons of surplus.

Scientists discover why gold remains unrusted for thousands of years and reveal atomic reorganization that reduces reaction with oxygen by up to 1 trillion times

A gigantic piece weighing 300 tons, equivalent to two Statues of Liberty, was hoisted almost 100 meters high in the interior of Mato Grosso do Sul to complete the largest recovery boiler in the world inside the R$ 23 billion megafactory of cellulose.

Vision In The Wind Energy Market Turns Farmer’s Son Into The World’s Largest Wind Turbine Tower Manufacturer

Entrepreneurial Vision in the Wind Energy Market Makes Farmer’s Son a Billionaire and Owner of the World’s Largest Wind Tower Manufacturer

Read Also

Goldman Investment in CS Wind’s Wind Tower Factory

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

Scientists develop a low-cost alternative to generate green hydrogen on a large scale using an innovative chemical process; discovery could revolutionize energy infrastructure, heavy industry, and sustainable transportation systems around the world.

Forget common renewable energy: HydroWing prepares a 10 MW project in Indonesia to transform ocean currents into predictable electricity, using turbines installed on the seabed in a region where the funnel effect between islands increases tidal potential.

The world could operate on clean electricity by 2050, but a study indicates that this would require up to 20 TW of renewable energy, more than 9 million hectares for solar, and strong cooperation between countries.

New catalyst developed by scientists in the USA enhances the performance of water electrolysis without using platinum, reducing operational costs and expanding the potential of green hydrogen as a strategic alternative for industries, heavy transportation, and clean energy generation.

China implements basalt fibers tested on the Moon to contain the desert’s advance in 1 million hectares, and the program surprises scientists worldwide.

How much does it cost to make a radier? A shallow foundation can speed up the construction and reduce stages, but poorly compacted soil, excess load, and design errors can turn the concrete slab into cracks, structural settlements, and much higher expenses later on.

Senai will pay for you to take a course: in partnership with Petrobras, the program offers 4,000 free spots in technical courses with a certificate recognized by the MEC and a monthly allowance of up to R$ 800 to train professionals for the Brazilian industry.

Brazil exports 1.5 million tons of beef to China, but the tariff-free quota covers only 1.1 million, and now the government is rushing to renegotiate the cap before the sector pays a 55% tax on nearly 400,000 tons of surplus.

Scientists discover why gold remains unrusted for thousands of years and reveal atomic reorganization that reduces reaction with oxygen by up to 1 trillion times

A gigantic piece weighing 300 tons, equivalent to two Statues of Liberty, was hoisted almost 100 meters high in the interior of Mato Grosso do Sul to complete the largest recovery boiler in the world inside the R$ 23 billion megafactory of cellulose.