South Korea’s Ministry of Environment and Ministry of Trade, Industry, and Energy have approved the Environmental Impact Assessments (EIAs) for Hexicon’s MunmuBaram project and Korea Floating Wind’s floating offshore wind project being developed off the coast of Ulsan.
The EIA process, conducted by the MunmuBaram project team, involved a comprehensive examination of potential environmental impacts on both offshore and onshore ecosystems, as well as socioeconomic factors, said Hexicon.
The MunmuBaram project is a 1,125 MW floating offshore wind farm planned approximately 60 kilometres off the coast of Ulsan, in the southeast region of South Korea.
Initially, the wind farm was being developed by Hexicon and Shell, but the Swedish floating wind developer acquired Shell’s 80 per cent stake and became the sole owner of the project.
Once commissioned, MunmuBaram is said to play a crucial role in supporting South Korea’s renewable energy target and providing clean energy to more than 700,000 households.
Korea Floating Wind (KF Wind), owned by Ocean Winds and Mainstream Renewable Power, together with Kumyang Electric Co, is developing the 870 MW KFW, and the 450 MW East Blue Power (“EBP”) projects.
In January 2022, KF Wind launched the EIA for the floating offshore wind farm. In June, the EIA report was submitted to the relevant ministries, including the Ministry of Trade, Industry, and Energy.
EDP Renewables, which established Ocean Winds together with Engie, and Aker Solutions invested in the development company KF Wind back in 2019, when they joined the founding shareholder WindPower Korea.
At the beginning of that year, KF Wind signed a Memorandum of Understanding with the City of Ulsan to cooperate on the development of floating wind projects and support the industrial development of the Ulsan region to serve as a manufacturing hub for domestic and export offshore wind markets.
KF Wind’s projects will cover an area of over 240 square kilometres, accommodating approximately 1.2 GW (net capacity).
