POSCO E&C Accelerates Offshore Wind Power Business... Strategic Cooperation with Norway's Equinor

POSCO E&C is accelerating its offshore wind power business by partnering with Equinor, the Norwegian state-owned energy company.

POSCO E&C signed an agreement on the 23rd with Equinor, a Norwegian state-owned energy company, to promote the 'Ulsan Firefly' project, the world's largest floating offshore wind power project. From left: Dohyun Park, Executive Director of Equinor; Torge Nækken, General Director of Equinor; Sangwoong On, Head of Infrastructure Business Division at POSCO E&C; Donghyun Kim, Head of Green Marine Business Promotion Team at POSCO E&C. / Photo by POSCO E&C

POSCO E&C announced on the 24th that it signed an agreement with Equinor on the 23rd to promote the world's largest floating offshore wind power project, the 'Ulsan Firefly' project.

The agreement focuses on establishing a strategic partnership in areas such as development, construction, and transportation related to the offshore wind power business, and on concretizing the project. Equinor is reportedly highly optimistic about the growth potential of Korea's offshore wind power industry.

The Ulsan Firefly offshore wind power project is a large-scale project to build a 750 MW floating offshore wind power plant on the sea surface 70 km away from Ulsan Port to generate electricity. It is capable of supplying electricity to all households in Ulsan City. POSCO E&C has been conducting conceptual design for onshore transmission lines since January.

On Sang-woong, Head of Infrastructure Business Division at POSCO E&C, said, "We are striving to break away from the limitations of traditional construction and select eco-friendly and renewable energy businesses such as offshore wind power as next-generation future growth industries to practice real value management. We expect that this business cooperation with Equinor will be a new turning point for POSCO E&C’s offshore wind power business. We will concentrate all our capabilities to ensure the success of the project."

Torge Næss, Director General of Equinor, said, "We consider it meaningful to sign a business agreement with POSCO E&C, which has competitive technology in the Korean construction industry. We will successfully carry out this offshore wind power project and contribute to Korea’s carbon neutrality goals."

Meanwhile, POSCO E&C also signed a technical cooperation memorandum of understanding (MOU) with Norway’s DNV, the world’s largest offshore wind power international certification body, in April.

This content was produced with the assistance of AI translation services.