Ocean Winds (OW) and South Korean Ulsan Metropolitan City have signed a letter of intent (LOI) to drive forward the 1200MW floating offshore wind energy project KF Wind.
KF Wind is a joint venture between Ocean Winds (66.7%) and Mainstream Renewable Power (33.3%).
Mayor of Ulsan Metropolitan City Kim Doo-gyeom (pictured: right) and chief executive of Ocean Winds Bautista Rodriguez Sánchez (pictured: left) signed the collaboration agreement.
Through this agreement, Ulsan Metropolitan City will provide its cooperation and support to OW in development, operation, and maintenance of the KF Wind project,
Meanwhile, OW reinforces its commitment to construct the project by 2030 and to provide cooperation for technology transfer, manpower training and job creation in the Ulsan area.
This cooperation actively contributes to Ulsan Metropolitan City strategy to be designated Korea’s first Specialized Zone for Regional Energy Decentralization.
Kim Doo-gyeom said: “As distributed energy becomes more popular, Ulsan will play a leading role in revitalising renewable energy industries such as wind power, hydrogen, and solar power.
Bautista Rodriguez Sanchez added: “I am thrilled and grateful for the Ulsan Metropolitan City’s Mayor support and trust towards our KF Wind project.
“Ocean Winds is very proud to contribute to Ulsan’s vision of clean energy production and focus in strengthening the local economy.”
The signing of the LOI formally took place during a visit to WindFloat Atlantic, the world’s first semi-submersible floating offshore wind farm, for which Ocean Winds just celebrated three years of operation.
The semisubmersible technology developed for WindFloat Atlantic and designed by Principle Power will also be used in KF Wind project, on its way of being the first commercial scale floating project in the world.