Ulsan backs Ocean Winds, Aker’s Korea Floating Wind project

The Ulsan Metropolitan City has formally expressed support for the 1.2-GW Korea Floating Wind project which is being developed by Ocean Winds and Norwegian partner Aker Offshore Wind AS.

Ocean Winds, a joint venture between EDP Renewables (ELI:EDPR) and Engie SA (EPA:ENGI), and Ulsan have signed a letter of intent (LOI) under which the metropolitan city will support and cooperate with the offshore wind energy firm in the development, operation and maintenance of the KF Wind project.

The pact also reaffirms Ocean Winds’ commitment to finalising the project by 2030 and assisting in the technology transfer, manpower training and job creation in the Ulsan area.

Ocean Winds and Aker Offshore Wind secured exclusive rights to develop 870 MW of floating wind power capacity off the coast of Ulsan at the beginning of 2022. The partners later that year obtained a second licence for a capacity of 450 MW in South Korean waters.

Both projects will utilise floating platforms and will form a combined complex of 1.32 GW, with 1.2 GW of grid capacity.

The LOI was signed in Viana do Castelo, Portugal, during a visit to the WindFloat Atlantic floating wind park which was realised by Ocean Winds' predecessor and launched in 2020.

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