26 °C Singapore, SG
February 22, 2024
Latest News
Corio Generation and bp Alternative Energy Investment Ltd invest in South Korea Australia missing climate targets Advocating for US based offshore wind Broken Record, Temperatures hit new highs, yet world fails to cut emissions (again) Toshiba and GE to shore up Japanese offshore wind domestic supply chain How I got here… National University of Singapore green finance academic Sumit Agarwal Multi-billion-dollar renewables project earmarked for Yindjibarndi native title land Smart Energy Finances: Enel divests 50% of Australian renewable operations to Japanese oil and gas giant Critical minerals investments surged by 30% finds IEA Kung Fu nuns fight climate change One of Southeast Asia’s largest energy storage systems comes online Why turning waste into gas will add value to this Indigenous economy Renewable energy records tumble around Australia as rooftop solar power soars Topsoe supports SGP BioEnergy in renewable fuels production in Panama ‘Poor tropical regions’ suffer greatest economic damage from worsening heatwaves UNEP: Meeting global climate goals now requires ‘rapid transformation of societies’ Analysis: Africa’s unreported extreme weather in 2022 and climate change Partly wind-powered coal ship sails into Newcastle New fossil fuels ‘incompatible’ with 1.5C goal, comprehensive analysis finds Australian offshore wind ‘supercharged’ in Victoria as billions pledged to fast-track projects Goldwind turbine ‘breaks world record for largest rotor diameter’, Chinese media reports BW Ideol to work with developer Taiya on Taiwan floating wind pilot US to boost floating wind power Wind Power in South Korea – an overview GS E&C to develop bioethanol using cassava waste Korean business group has asked the US to make exceptions for Korean EV’s in Inflation Reduction Act Equinor’s Australian offshore wind debut Global energy transition stalls – 2022 Global Status Report in pictures India’s ReNew Power secures $1bn loan for gigascale 24/7 wind-solar-battery project POSCO International to merge with POSCO Energy

EDPR and Aker Solutions plan 500MW South Korean floater

The project would use Principle Power’s WindFloat technology — a semi-submersible foundation with buoyancy columns ballasted by water — the project partners said.

They have not specified a target date to commission the project or plans for further capacity.

Korean developer WindPower Korea established Korea Floating Wind Power (KFWind) prior to EDP Renewables and Aker Solutions forming the consortium.

The project partners said Ulsan’s shipyards and port facilities made the city well-suited for commercial floating projects.

KFWind signed a memorandum of understanding (MoU) with the city government in January 2019 to support industrial development in the region so Ulsan could serve as a manufacturing hub for offshore wind off South Korea and abroad.

The project off Ulsan is like to fall under EDPR’s potential joint venture with Engie, through which they are aiming to have between 5GW and 7GW of fixed-bottom and floating offshore wind farms in operation or construction by 2025.

South Korea currently has almost 1.2GW of installed wind capacity, according to Windpower Intelligence, the research and data division of Windpower Monthly. Offshore wind accounts for just 38MW of this total.

But several companies have unveiled plans for offshore wind farms off South Korea.

Macquarie’s Green Investment Group is working with Korean fund manager Energy Infra Asset Management to develop a three-phase 1.4GW project off Ulsan.

A consortium of Equinor, the Korea National Oil Corporation and power company Korea East-West Power are developing a 200MW floating wind project also off Ulsan.

And KFWind founder Wind Power Korea is developing three further offshore projects with a combined capacity of 1.2GW.

South Korea’s government also plans to fund a 4GW offshore wind and solar PV complex off the country’s south-west coast.

It aims to have 13GW of offshore wind installed by 2030.

Source

Leave a Reply

Your email address will not be published. Required fields are marked *