Global offshore wind developer Deep Wind Offshore has signed a partnership agreement with Korea Hydro and Nuclear Power (KHNP), the largest power producer in South Korea.
Deep Wind Offshore has been developing offshore wind projects around the Korean peninsula for the past four years. So far, this has resulted in 3GW under exclusive development.
Now, the Norway-headquartered offshore wind developer has signed a partnership agreement with KHNP.
The partnership will jointly develop the Admiral Lee and Abalone projects, to contribute to Korea’s offshore wind power expansion policy.
The two offshore wind farms will each have a capacity of up to 1.5GW.
The signing ceremony took place in Oslo involving KHNP president Joo-Ho Hwang and Deep Wind Offshore chief executive Knut Vassbotn (pictured).
They were accompanied by the Ambassador of the Republic of Korea to Norway Min-Jeong Seo and Jo Sletbak from the Norwegian Ministry of Foreign Affairs.
Director of the renewable energy division at KHNP Young-chul Kang said: “KHNP is evolving beyond its traditional role as a leader in nuclear and hydro power generation to become a driving force in the transition to eco-friendly energy through the development of renewable sources such as offshore wind.
“Our strategic partnership with Deep Wind Offshore marks a pivotal milestone in strengthening Korea’s global competitiveness in offshore wind.
“Through this collaboration, we will actively contribute to the expansion of clean energy, while also leading efforts in localisation of key technologies and delivering value to local communities.”
Deep Wind Offshore chief executive Knut Vassbotn said: “With an impressive track record and a unique local position, KHNP is the perfect partner for Deep Wind Offshore in Korea.
“Together with our experienced team, this collaboration will provide a solid foundation for maturing projects through upcoming milestones.
“Combined, we will contribute to Korea’s front-running position in offshore wind.”
Owned by Knutsen Group, Deep Wind Offshore is an international developer of offshore wind projects, with presenece in Norway, South Korea, Sweden and Estonia.
KHNP is Korea’s largest power generation company, producing approximately 30% of the nation’s electricity through a diversified energy mix that includes nuclear, hydro, and solar power.
The company is accelerating the development of potential offshore wind sites along the east and southwest coasts of Korea, while strengthening its presence in domestic and international renewable energy markets through collaboration with global private-sector partners.