Wind Energy – Floating Wind
Shell Gas & Power Developments on Monday signed a memorandum of understanding (MoU) with power generation company Korea Southern Power Co. to drive Shell’s floating offshore wind and renewable energy ambition in South Korea.
Under the MoU, the two energy companies will explore collaboration opportunities to contribute to Korea’s energy transition. This could include renewable energy off-take, joint operation and maintenance, and potential business opportunities in renewable-based hydrogen energy powered by MunmuBaram, Shell’s joint-venture floating offshore wind project in Ulsan.
“Shell views offshore wind energy as a key part of a net-zero energy system,” said YoungKyu Ju, MunmuBaram Project Director and Shell Korea Country Chair. “We are excited to collaborate with KOSPO to advance Korea’s renewable energy market and propel the country closer towards its carbon neutral target.”
Seung-Woo Lee, President and chief executive officer (CEO) of KOSPO said, “This MoU signed with Shell, a global energy leader, will help KOSPO expand our businesses. This will not only help the Korean government achieve the goal of transforming major energy sources but will also put Korea’s world-class shipbuilding and marine engineering business at the core of the floating wind industry.”