A clean energy consortium has announced plans to build a 500MW floating wind farm off the coast of South Korea.
The consortium was formed by EDP Renewables and Aker Solutions investing in the development company Korea Floating Wind Power, joining founding shareholder WindPower Korea.
Principle Power will supply its foundation technology for the project, which will be located in the ocean near Ulsan Metropolitan City.
It will help the South Korean Government reach its target of installing 13GW of offshore wind by 2030 and reaching a 30% renewable energy mix by 2040.
The region is well-suited for commercialising floating wind, due to the availability of suitable shipyards, maritime expertise and port facilities
the technology enables the installation of floating platforms in deep waters that were previously inaccessible