Korea Hydro & Nuclear Power to Develop Floating Offshore Wind Power Complex off Ulsan Coast

Created with a scale of 1.5GW with a Spanish company... "World's Largest"

Korea Hydro & Nuclear Power signed a Memorandum of Understanding (MOU) for mutual cooperation on the "Ulsan Floating Offshore Wind Power Plant Project" with Spanish offshore wind specialist company OW Offshore and Ulsan-based renewable energy specialist company Geumyang Industrial Development at the Lahan Hotel in Gyeongju on the 15th. (Photo by Korea Hydro & Nuclear Power)

[Asia Economy Reporter Moon Chae-seok] Korea Hydro & Nuclear Power (KHNP) is embarking on the development of the world's largest floating offshore wind power complex.

On the 15th, KHNP announced that it signed a Memorandum of Understanding (MOU) for mutual cooperation on the 'Ulsan Floating Offshore Wind Power Complex Development Project' with Spanish offshore wind specialist company OW Offshore and Ulsan-based new and renewable energy specialist company Geumyang Industrial Development at a hotel in Gyeongju.

This project involves OW Offshore developing three 500MW floating offshore wind power complexes, totaling 1.5GW, in the exclusive economic zone (EEZ) about 72 km off the coast of Ulsan. It will be the world's largest floating offshore wind power project.

OW Offshore is currently installing wind measurement devices and reviewing the project's feasibility, and the three companies that signed the agreement have agreed to cooperate closely to ensure the successful advancement of the project.

Currently, global offshore wind power specialists are entering the waters off Ulsan to promote the development of floating offshore wind power complexes. The government is accelerating system development with the goal of developing 4.6GW of floating offshore wind power in the Southeast region starting in 2026.

Lee In-sik, head of KHNP's Green Energy Headquarters, said, "In the future, the domestic wind power industry will be reorganized around floating offshore wind power," adding, "The East Coast of Korea is the optimal location for floating offshore wind power."

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