- Ministry of Trade, Industry and Energy awards Shell and Hexicon the 1.3GW MunmuBaram
- The project received its first 420MW license in November 2021
- The wind farm is expected to generate 4.2TWh per year once completed.
South Korea’s Ministry of Trade, Industry and Energy has awarded two additional electricity business licences to energy developers. This was announced by the Swedish firm, Hexicon. The utility has been granted exclusive development rights to deploy a 1.3MW floating offshore wind project in South Korea.
In November 2021, the project received its first 420MW license. It will now work on securing a grid connection arrangement. “This might happen this year,” Hexicon CEO Marcus Thor remarked, “far ahead of the projected fabrication start.”
The MunmuBaram project, located off the coast of Ulsan, is a joint venture (JV) between Royal Dutch Shell and Hexicon Co Ltd, which holds a 20% share. The latter is a 50/50 joint venture between Hexicon, a floating wind farm, and Coens Co Ltd, a South Korean company.
The developers are currently working on the EIA, a marine traffic survey, a cultural heritage survey, and other operations. The wind farm is expected to generate 4.2 TWh per year once completed.