Korea Southern Power (KOSPO) and Equinor have signed an MoU to explore a potential collaboration on offshore wind projects near Chuja Island in South Korea.
Through the agreement the two companies seek to contribute to Korea’s goal of achieving carbon neutrality by 2050 through expanding sustainable future energy generation.
Korea Southern Power (KOSPO) expects its collaboration with Equinor will strengthen its capabilities in large-scale renewable energy projects.
This includes exchanging knowledge and expertise in the construction and operational management of offshore wind power.
Bjørn Inge Braathen the country managing director of Equinor Korea, said: “This partnership with Korea Southern Power (KOSPO) marks a significant step towards realizing our shared vision for a sustainable energy future.
“Working together on the Chuja Island offshore wind projects, we are combining our strengths to not only enhance the development of renewable energy in Korea but also to contribute in a meaningful manner to the nation’s goal of achieving carbon neutrality by 2050.
“This project is an example of what we think we can achieve together – pooling our expertise, technology, and commitment to realise a more sustainable energy mix for Korea – together.
“We are excited to collaborate with KOSPO and believe that our joint efforts will pave the way for innovative and sustainable energy solutions, benefiting communities and the environment alike.”
Lee Seung-woo, president of Korea Southern Power, added: “The MOU with Equinor, will greatly assist in expanding our company’s renewable energy business.
“We also hope it will lay the foundation for Korea Southern Power’s transition to a low-carbon power generation system and to lead the future energy industry.”