Equinor to pursue floating wind projects in South Korea

It has partnered with Korea National Oil Corporation (KNOC) to jointly explore opportunities

The Big Zero report

Norwegian energy giant Equinor has joined forced with Korea National Oil Corporation (KNOC) to jointly explore floating wind opportunities.

They have signed a Memorandum of Understanding (MoU) to develop commercial floating wind projects in South Korea, which is pursuing a transition from nuclear and coal to renewable energy.

The proportion of renewables in power generation is expected to increase to 20% by 2030, which translates to a target of 49GW of new capacity.

KNOC, 100% owned by the South Korean state, is looking to develop a 200MW floating offshore wind project at its existing Donghae platform, 58km off the cost of Ulsan City.

Equinor is operating the world’s first full scale commercial floating offshore wind farm, Hywind, off the coast of the UK.

Stephen Bull, Senior Vice President for Wind and Low Carbon in New Energy Solutions at Equinor said: “South Korea has large potential and offers attractive opportunities within offshore wind. We are pleased to sign an MoU with KNOC to strengthen our collaboration.

“We look forward to evaluate how we can further expand our portfolio within offshore wind and contribute to develop renewable energy solutions.”

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