The world's second largest shipyard, Samsung Heavy Industries (SHI), is thinking about moving towards wind turbine production in the future. With the recent drop in vessel orders, the company needs a new source of work and revenue. The wind market is estimated at around USD 74 billion by 2020, so there is a good chance for long-term engagement in this sector.

SHI is looking for a new plant site, where the company plans to build a production plant for producing 200 wind turbines, with capacities of 2.5 MW and 5 MW. SHI is aiming to build about 500 units by 2015, with a planned generated revenue of about USD 2.4 billion. There are additional plans to raise the production output to a very impressive 1600 wind turbines.

SHI is eyeing the Chinese and Indian wind energy market. The technology for manufacturing wind turbines is similar to the technology used to make propellers, so the company is relatively easily going to make the transition to wind turbine production.

SHI is not alone in its intentions. Another heavy giant, Hyundai Heavy Industries, is also aiming for the renewable energy sector, planning to build a production plant in South Korea.