Wind Energy – South Korea
Corio Generation, a Green Investment Group portfolio company, and TotalEnergies will join forces with SK ecoplant to develop the BadaEnergy offshore wind portfolio in South Korea.
SK ecoplant will acquire a stake in the portfolio, subject to the completion of government approvals.
The BadaEnergy portfolio comprises more than 2 GW of floating and fixed-bottom offshore wind farms off the coast of Ulsan and South Jeolla province. This includes the 1.5 GW Gray Whale project, expected to become one of the world’s largest floating offshore wind developments.
Leveraging its offshore engineering, procurement and construction expertise, leading South Korean company SK ecoplant will join the partners in taking the projects from early planning through licensing and construction to operation.
The partnership with SK ecoplant will provide an opportunity to develop the BadaEnergy projects to the highest standards, with a high level of local content. In this way, the projects will boost local industry, create jobs in South Korea and contribute to the supply of green electricity at a competitive price.