Korea Hydro & Nuclear Power (KHNP) has signed a memorandum of understanding (MOU) with OW Offshore, a Spanish offshore wind power company, and Kumyang, a Korea renewable energy company to develop a giant floating offshore wind power generation complex off the coast of Ulsan, which the parties involved claim will be the biggest in the world.
Under the agreement, OW Offshore will develop three 500MW complexes with a combined total capacity of 1.5 GW in Korea’s exclusive economic zone (EEZ) off Ulsan.
South Korea is currently accelerating the development of a new wind power generation system with an aim of building 4.6 GW of floating offshore wind farms in the southeast of the country in the coming few years.
