First floating wind license awarded in South Korea – 4C Offshore

InSouth Korea, ambition for offshore wind is high. Under the governmentsGreen New Deal, the nation is targeting 12 GW of offshore wind power bythe end of the decade, with regional plans outpacing even this ambitiousaim. The government anticipates at least 2 GW of installed capacity by2030 to be derived from floating wind.

The region of Ulsanin particular is seen as a strong contender for floating wind dominanceand this week the technology has reached a milestone. Macquaries GreenInvestment Group (GIG) and TotalEnergies, who are planning a 1.5 GW floatingoffshore wind farm in Ulsan, have obtained an electricity business license(EBL) from the Ministry of Trade, Indsutry and Energy (MOTIE) via its ElectricityRegulatory Commission (ERC).

This is the first EBLever to be awarded to a floating wind project in South Korea, and is akey step in the consenting process. The EBL was awarded for the projects504 MW first phase. Developers announced that, following this approval,they will now commence environmental impact assessments, with a view toentering construction in 2024.

The award of anEBL is a significant milestone in the development of GIG and TotalEnergiesUlsan floating offshore wind farm, said Shin Jungwon, Country Chair,Korea, at TotalEnergies. We recently completed our wind resource measurementcampaign, and having now been awarded exclusive development rights, werelooking forward to starting detailed environmental impact and engineeringassessments.

The 1.5 GW projectis expected to produce power equivalent to that of more than 1.5 millionhomes, and to reduce emissions by roughly 2.3 million tCO2e per annum.

GIG and TotalEnergieshave committed to using a local supply chain where possible, and statedthat they are actively collaborating with shipbuilders and heavy industrycompanies in Ulsan to help revive Koreas offshore industries.

With its fantasticinfrastructure and offshore experience, Ulsan is the perfect location forfloating offshore wind development, Woojin Choi, Managing Directorat GIG Korea commented. Thats why GIG and TotalEnergies are joininghands with Koreas world-class shipbuilding and offshore industries todeliver this market-leading project. By bringing together specialist localknow-how with GIG and TotalEnergies global expertise, the Ulsan projectwill place Korea at the forefront of the global floating offshore windmarket.

For more information on offshore windfarms worldwide,clickhere.

Here is the original post:

First floating wind license awarded in South Korea - 4C Offshore