Major Industry Players Team Up on Floating Wind Development Offshore Ulsan

April 12, 2023, by Adnan Memija

Major industry players have joined forces and launched the Ulsan Floating Offshore Wind Association with the aim to promote the development of the offshore wind industry in Ulsan, South Korea.

The Association consists of the Ulsan Chamber of Commerce and Industry (UCCI) and five companies: Korea Floating Wind (Ocean Winds and Aker Group), Firefly Offshore Wind Farm (Equinor), Haewoori Offshore Wind (CIP, COP), Gray Whale Offshore Wind Power (Corio Generation, TotalEnergies, SK ecoplant), and MunmuBaram (Shell, Hexicon).

Representatives of the respective companies attended the launching ceremony on 5 April to highlight the importance of collaboration and share their future visions for the development of the offshore wind industry in Ulsan.

That same day, the council signed a business agreement with UCCI and joined as a special member.

The Ulsan Floating Offshore Wind Association plans to actively collaborate with all stakeholders related to offshore wind projects and provide relevant authorities with advice for the development of offshore wind and renewable energy industries.

In addition, the association said it will foster supply chains in Ulsan and secure local acceptance and public support by contributing to the local community.

“The launch of the Ulsan Floating Offshore Wind Association marks the first and meaningful step in building an offshore wind power ecosystem in the region and going carbon-free. Going forward, the UCCI will work closely with the association as well as relevant authorities at the central and local levels in order to successfully establish Korea’s first floating offshore wind farm“, said Lee Yuncheol, chairman of UCCI.

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Under its Renewable Energy 3020 Implementation Plan, South Korea plans to develop 12 GW of offshore wind projects by 2030.

In 2021, the country’s former president Moon Jae-in revealed the government would invest KRW 1.4 trillion (around EUR 1 billion) in the first phase of a project developing a 6 GW floating wind farm offshore Ulsan.