Norwegian Developer Teams Up with East West Power on 4 GW Plan in South Korea

Norwegian offshore wind developer Deep Wind Offshore has signed a Memorandum of Understanding with East West Power to collaborate on four projects totalling more than 4GW of floating and bottom fixed offshore wind in South Korea.    

“The complementary capabilities of our companies create a solid foundation for successfully developing the projects to benefit the energy transition in Korea and provide opportunities for the national supply chain and local communities”, said Knut Vassbotn in CEO Deep Wind Offshore. 

In December 2021, Deep Wind Offshore was awarded a EUR 1 million grant by Enova for a project looking to optimise the entire architecture for a floating wind farm, with the aim of developing a more cost-effective floating wind farm design in the Utsira Nord area in Norway.

The same month, the company partnered with EDF Renewables to bid in the offshore wind auction in Norway, where the new 50/50 joint venture will submit applications for the development of two commercial-scale projects in the tendered areas, Utsira Nord and Sørlige Nordsjø II.

In South Korea, East West Power is deeply into power generation and accounts for 11.2 GW of all facilities.

Earlier this month, the company signed a Joint Development Agreement Term Sheet with Korea Floating Wind (KF Wind) for a collaboration on the development of floating offshore wind sites off the coast of Ulsan.

Together with Equinor and Korea National Oil Corporation (KNOC), East West Power is already developing the 200 MW Donghae 1 floating offshore wind project nearby the KNOC-operated Donghae natural gas field off the coast of Ulsan, in a wider area for which the South Korean government announced plans for a 6 GW floating wind development in 2021.

In November last year, East West Power and Equinor signed a Memorandum of Understanding (MoU) to cooperate on 3 GW of offshore wind projects in South Korea.

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