RWE and Ulsan Metropolitan City are to cooperate on the development of up to 1500MW of floating offshore wind projects off South Korea.
The German company said its office in Seoul will lead the push on project development and planning.
The City of Ulsan will provide government relationships and local network to support RWE, especially during the planning and permitting phase.
After consultations with the relevant authorities, associations and local community, a feasibility study will be conducted to define the plan of developing, constructing and operating floating offshore wind projects off the Ulsan coast.
Song Chul-ho, Mayor of Ulsan Metropolitan City, said: “RWE’s extensive international experiences in developing, building and operating offshore wind projects, brings technical and engineering know-how, as well as risk management capabilities that are crucial.
“The Ulsan region offers a combination of industry-leading shipyards, maritime expertise and port facilities. I am confident that our cooperation with RWE can unlock untapped potential in renewable energy production as well as for local economy and green job creation in Ulsan.”
Sven Utermöhlen (pictured), CEO Wind Offshore of RWE Renewables, added: “At RWE we want to further expand our market presence in South Korea – one of the fast growing markets for offshore wind. South Korea’s excellent wind resource in combination with deep waters close to energy demand poses a great opportunity for floating wind.”