Amsterdam Capital Partners, G8 Subsea, Saemangeum Offshore Wind Power and Saemangeum Development and Investment Agency of Korea are to work together to develop offshore wind and floating solar in South Korea.
The partners have plans for about 300MW of offshore wind and 2.7GW of floating solar projects.
Saemangeum Offshore Wind Power is currently developing a 100MW offshore wind project in Saemangeum.
The project is in its final development stage, with all permits – both local and national – and regulatory approvals now secured, the companies said.
Saemangeum Development and Investment Agency is a central government agency of Korea responsible for the Saemangeum industrial complex project.
It is in charge of administrative services and support for the Saemangeum site, which is a 409km squared area of reclaimed land on South Korea’s west coast.
Amsterdam Capital Partners’s Michael van der Heijden said: “(Saemangeum Offshore Wind Power) has clearly paved the way for offshore wind in Korea and we are very excited to contribute our structuring expertise and bringing financial partners to the region to execute this project and the further offshore wind plans.”
Amsterdam Capital Partners is a financial advisor specialised in offshore wind with specific expertise in developing, structuring, tendering, contracting and financing projects.
It is active in several Asian countries, including Vietnam, Taiwan and Korea.
G8’s Gerald Tan said: “With an already proven track record in South Korean offshore wind farms, G8 aims to develop this as a leading platform in Asia to accelerate the financing and construction of projects in this region.
“Our finance to build program to Saemangeum is a unique proposal that allows us to help developers accelerate the development towards earlier commission and profitability of their offshore wind projects.”
G8 is a subsea engineering solution provider in Asia focusing in the technical development of offshore energy infrastructure.