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    Ocean Winds, Aker Secure EBL For 870MW Floating Wind Project In South Korea


    January 27, 2022 - Fitch Solutions Sector Intelligence

     

      THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data are solely derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research.

      Ocean Winds, Aker Secure EBL For 870MW Floating Wind Project In South Korea

      • 27 Jan 2022
      • South Korea
      • Infrastructure

      News: The Government of South Korea has awarded electric business licence (EBL) to Korea Floating Wind, a joint venture (JV) between Ocean Winds (a JV between EDP Renewables and Engie) and Aker Offshore Wind granting exclusive rights to develop a 870MW floating wind project off the coast of Ulsan, South Korea. Korea Floating Wind is owned 66.7% by Ocean Winds and 33.3% by Aker Offshore Wind. The JV has identified three sites off Ulsan's shore that can adjust some 1.2GW of floating wind power capacity. Korea Floating Wind expects to secure its second EBL for 450MW capacity. Financial close is expected in 2024.

      This report from Fitch Solutions Country Risk & Industry Research is a product of Fitch Solutions Group Ltd, UK Company registration number 08789939 ('FSG'). FSG is an affiliate of Fitch Ratings Inc. ('Fitch Ratings'). FSG is solely responsible for the content of this report, without any input from Fitch Ratings.

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