Plans for Total and Macquarie to enter the South Korean Floating Wind Market
from google images
Located off the Eastern and Southern coasts of the country (Ulsan and South Jeolla Provinces), this portfolio consists of large floating offshore wind projects with a potential cumulated capacity of more than 2 gigawatts (GW).
With the hopes of regulatory approvals and satisfaction of other conditions precedent, GIG has already started collecting wind data to support the campaigns portfolio as the partners aim to start the co-development activities by the end autumn of 2020.
The partners hope to start building the first 500MW chunk by the end of 2023, said a statement announcing the link-up.
“Our entry in the floating offshore wind segment in South Korea is in line with Total’s strategy to profitably develop renewable energy worldwide and contribute to our net zero ambition,” said Patrick Pouyanné, Chairman & CEO of Total.
The partnership will also focus on maximizing Korean content within the supply chain, in line with the government’s ‘New Deal’ plan, which targets the creation of 1.9 million new jobs through green energy and other new technologies.
South Korea’s RE3020 plan targets the delivery of 12 GW of offshore wind capacity by 2030.
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by Kaiya Puddephat
BP and Equinor Offshore Wind Deal
The winds are picking up off the Australian Coast