Updated: Apr 6
The Denmark based leading wind turbine manufacturer Vestas has entered into a partnership for a 9GW floating wind farm complex in South Korea.
A Memorandum of Understanding has been signed between Vestas and Ulsan City Administration, Ulsan Port Authority and Sejin Heavy Industries & Construction for the same, according to a statement released by the South Korea’s Ulsan City Government.
The partnership aims to boost cooperation for the development of 9GW offshore floating complex.
To be noted, "Ulsan City is the seventh largest metropolitan of South Korea seated on the Yellow Sea – a key trade route," a local report mentioned.
It has been reported that according to the agreement, :necessary infrastructure will be created by Ulsan City Administration, Sejin Heavy Industries & Construction and Ulsan Port Authority necessary for the development of the wind farm complex."
The project plans to establish a base for wind energy equipment and materials’ exports.
The project is expected to be completed by 2030.
Earlier, the city government has signed similar floating wind agreements with developers like Equinor, RWE, BayWa R.E., Shell and Green Investment Group.
South Korea has planned an energy transition by increasing the share of renewable power to 20 percent by the end of 2030.