floating wind

Equinor, Korea National Oil Corporation and Korea East-West Power have formed a consortium for the project

The companies aim to start producing and exporting wave power by 2024

Danske Commodities is owned by energy giants Equinor and Masdar

They will combine their offshore wind assets and project pipeline, starting with a total capacity of 1.5GW under construction and 4GW under development

Projects should aim to significantly reduce costs over the long term

The group will meet regularly with the aim of providing a vision for large-scale deployment of floating wind farms in the UK

A full-scale floating turbine is expected to be deployed at a test site by 2022

Different technological solutions will be tested, with the goal of deploying them on a larger scale

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

The project is expected to help deliver significant cost savings compared to existing floating wind concepts