ULSAN < invest Korea

According to Pulse by Maeil Business News Korea,

SK ecoplant, the construction unit of South Korea’s SK Group, teamed up with Corio Generation specializing in offshore wind power development, and TotalEnergies, a global multi-energy company, to complete the largest power generation facility in Korea based on wind power.

SK ecoplant will join BadaEnergy,” the offshore wind power project in South Korea the consortium of Corio Generation and TotalEnergies are working on.

The project aims to develop floating and fixed offshore farms with a total capacity of 2.6 GW in five zones on the southern coast of South Korea, including Ulsan and South Jeolla Province. The floating wind farm includes a 1.5-GW turbine, the largest in the world. Four of the five projects in BadaEnergy have gained a permit for power generation from the Ministry of Trade, Industry, and Energy.

SK ecoplant will participate in the initial stage of BadaEnergy, jointly with the two partners for project approval, construction, and post-construction operation. The construction will kick off in 2024 phase-by-phase, targeting commercial operations in 2027. “We have secured an upper hand in floating and fixed wind farm development for engineering, procurement, and construction (EPC) through our cooperation with top-tier global firms in the field,” said an official at the firm. The firm has also expanded its presence in the renewable energy sector. It made a strategic investment worth 120 billion won in Topsun, a leading solar power energy firm in Korea, in June. Based on the partnership, it will develop solar and wind power projects with a capacity of 1 GW, targeting completion by 2026.

Corio Generation, established in April this year, is engaged in wind power projects worldwide with a total capacity 20 GW. TotalEnergies operates renewable energy projects with a combined capacity of 10 GW in 14 nations. Its wind power projects with a capacity of 9 GW are also underway in Asia, Europe, and the U.S.

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (Sept. 6, 2022)