Ocean Winds, Aker Offshore Wind Secure 1.2 GW Floating Capacity in South Korea

Korea Floating Wind (KF Wind), a joint venture between Ocean Winds and Aker Offshore Wind, has secured an Electric Business License (EBL) from South Korea’s Ministry of Trade, Industry and Energy of the Republic of Korea for further 450 MW of floating wind capacity in the country.

This is the second EBL KF Wind obtained for its 1.2 GW floating wind project offshore Ulsan, after being granted the same licence for the first 870 MW in January. According to Philippe Kavafyan, Chief Executive Officer of Aker Offshore Wind, the joint venture is now on track to build the world’s first industrial-scale floating offshore wind farms in Ulsan by 2028.

With the previously secured 870 MW, KF Wind’s floating wind project now holds a 1.32 GW EBL capacity, covering the 1.2 GW net capacity target (based on grid limits), which can power the equivalent of over 1.3 million households, the joint venture said in a press release on 3 March.

“This confirms a strong vote of confidence from the South Korean government and sustains the pace for South Korea to be the leading market for GW-scale, floating offshore wind power generation”, Philippe Kavafyan said.