Wind energy – Korea
Equinor and its partner Korea East-West Power (EWP) have signed a Memorandum of Understanding (MoU) to cooperate on 3 GW of offshore wind projects in South Korea.
Together the partners will contribute significantly to the country’s ongoing energy transition and development of offshore wind industry in Korea. The MoU confirms Equinor’s strategy of accelerating profitable growth in renewables by creating value from early access at scale in attractive markets, in collaboration with partners that share its vision and goals.
The Korean Government has set out an ambition to grow renewables by 60 GW to 2034, of which 12 GW is targeted for offshore wind by 2030.
Equinor said it would use its new floating wind technology, Wind Semi, for its projects in South Korea as it had been developed specifically for Korean waters and local conditions.
In South Korea, Equinor and EWP, together with Korea National Oil Corporation (KNOC), are already developing the 200 MW Donghae 1 floating offshore wind project nearby the KNOC-operated Donghae natural gas field off the coast of Ulsan, in a wider area for which the South Korean government announced plans for a 6 GW floating wind development earlier this year.