Equinor joins forces with EWP for 3 GW of Korean offshore wind

Norwegian energy company Equinor ASA (NYSE:EQNR) is scaling up South Korean offshore wind plans by signing a memorandum of understanding (MoU) with local state-owned power producer East-West Power Co Ltd (EWP) for the joint development of floating projects totalling 3 GW.

The partnership with EWP will ensure a development pipeline that will contribute to South Korea's target of deploying 12 GW of offshore wind by 2030, Equinor said on Wednesday.

The Norwegian company will provide floating wind expertise and technology as well as operation and maintenance (O&M) capabilities.

In Korea, where it has been present since 2014, Equinor plans to make use of its recently-unveiled semisubmersible wind turbine foundation, Wind Semi, which allows for the development of gigawatt-scale commercial floating offshore wind farms in a single phase and in harsh water conditions.

"We want to develop the first commercial floating offshore wind farm in South Korea. We have worked with the Korean supply chain for many years and know its qualities and capabilities," Equinor's executive vice president for renewables, Pal Eitrheim, said.

Equinor is currently building the 88-MW floating wind farm Hywind Tampen that will power offshore oil and gas platforms in the Norwegian North Sea.

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