Offshore heavyweights launch giant floating wind project off Korea – Recharge

A development consortium made up WindPower Korea, EDP Renewables (EDPR) and Aker Solutions has been formed to build a 500MW floating wind project off the coast of South Korean, moving forward ambitious plans by the south-east Asia nation for a giant offshore power complex off the industrial port city of Ulsan.

The group, one of four that signed memoranda of understanding with the citys authorities in January, will use Principle Powers WindFloat platforms for the project, which will be developed by special purpose company Korea Floating Wind Power (KFWind).

The Ulsan area is well-suited for commercialising floating wind, due to the combination of industry-leading shipyards, maritime expertise and port facilities in the region, the consortium said in a statement. The consortium foresees that a potential project will contribute with significant positive economic and environmental benefits to the local community.

The consortium has been committed from the beginning to working hand-in-hand with the local fisheries associations and stakeholders to ensure that projects are well-sited and developed responsibly.

The floating wind farm, located a site some 50km (31 miles) offshore, will come under the umbrella of a joint venture between EDPR and French developer Engie announced in May.

Green Giraffe, a Paris-headquartered specialist renewables consultancy, advised KFWind on the plan. The project partners did not disclose the value of the transactions.

From a standing start, South Korea aims to develop 13GW of offshore wind plant off its coast by 2030 to drive toward a target of having at least 30% renewable energy in its national mix by 2040.

Go here to read the rest:

Offshore heavyweights launch giant floating wind project off Korea - Recharge