Norway petroleum refining company Equinor is eyeing the development of a third offshore wind power project with a capacity of 1.5GW in southwestern South Korea.
“We are looking to build a portfolio of 4-6GW in South Korea to support Equino’s ambition… in energy transition,” Jacques-Etienne Michel, president of Equinor South Korea, last week (27 May 2022) told local media.
The proposed wind power project will be Equinor’s third wind power project in the country, with the first 2 as follow:
- 800MW Firefly offshore wind in Ulsan
- 200MW Donghae 1 offshore wind farm in Ulsan
Equinor is looking for partners and is targeting a final investment decision for Firefly by 2024. The wind farm is undergoing an environmental impact assessment.
Meanwhile, the company is developing Donghae 1 with state-owned Korea National Oil and Korea East-West Power, a subsidiary of Kepco.
Both the projects received electric business licenses from the government in December 2021.