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

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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.

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