Wind energy – floating wind
Munmu Baram is formally established by Shell Overseas Investments (80%) and CoensHexicon (20%) with the aim to develop and operate a 1.4 gigawatt (GW) floating offshore wind project off the south-east coast of South Korea.
The proposed wind farm will help in South Korea’s energy transition and decarbonization journey.
The project, which is currently at a feasibility assessment stage, is located between 65 and 80 kilometres from the city of Ulsan South Korea. The total project site covers an area of approximately 240 km2 with water depths ranging between 120 and 160 metres making the site suitable for floating foundations.
Subject to future investment decisions, Munmu Baram will be developed in phase(s) and once constructed, expected to generate up to 4.65-terawatt hour (TWh) of clean energy every year.
“With Shell’s long-standing history in South Korea, we are proud to expand our activities into floating offshore wind. Korea’s capabilities in the fabrication of offshore facilities and shipbuilding could play a pivotal role in the development and fabrication of floating offshore wind foundations not only for Korea but also for the region and beyond,” said Joe Nai, Shell’s General Manager, Offshore Wind Asia.
“Shell views offshore wind energy as a key part of a net-zero energy system, both in South Korea and globally, and we are excited to work with our partner, CoensHexicon, on this opportunity which could, if realized, provide renewable power from floating offshore wind to over 1 million Korean households.”
The proposed floating offshore wind project would be a significant development towards South Korea’s ‘Renewable Energy 3020 Plan’, which aims to increase domestic renewable energy generation to 20% of the energy mix by the year 2030 and will assist in meeting South Korea’s ambition to become carbon neutral by 2050.