Deep Wind Offshore will work with South Korea’s East West Power to develop a 4GW offshore wind portfolio.
Through the agreement, the Norwegian developer will focus on four projects comprising both floating and fixed-bottom wind.
EWP is a state-owned power generator that currently oversees more than 11GW of capacity in South Korea.
Deep Wind Offshore CEO Knut Vassbotn said: “We are extremely excited to collaborate with EWP on these projects.
“The complementary capabilities of our companies create a solid foundation for successfully developing the projects to benefit the energy transition in Korea and provide opportunities for the national supply chain and local communities.”
South Korea has strong infrastructure to support offshore wind development, said EWP chief executive Young-Moon Kim, such as shipbuilding and steelmaking capabilities that will make the projects “more stable and feasible”.
“We will collaborate together with Deep Wind Offshore for the promotion of domestic wind power growth and industrial base and an opportunity for win-win development with local society,” he added.