Equinor Lines Up Floating Wind in S.Korea

Friday, February 15, 2019

Equinor and South Korea's state-owned National Oil Corporation (KNOC) will explore opportunities to develop commercial floating offshore wind farms in South Korea, the Norwegian company said on Friday.

South Korea aims to reduce its dependence on nuclear and coal power, targeting an increase in the share of renewable energy to 20 percent by 2030, compared with 7.6 percent in 2017, the country said last year.

Equinor says this translates to a target of 49 gigawatts (GW) of new generation capacity.

KNOC plans to develop a 200 MW floating offshore wind project 58 km off the coast of Ulsan City, the Norwegian company added.

"South Korea has large potential and offers attractive opportunities within offshore wind," said Equinor Senior Vice President Stephen Bull.

"We are pleased to sign a memorandum of understanding with KNOC to strengthen our collaboration."

Equinor has built and is operating the world's first commercial floating offshore wind farm - Hywind - off Scotland, where its five turbines have total capacity of 30 MW.

Floating turbines are considered the next step in conquering wind resources in deep coastal waters where fixed turbines cannot be built, such as Japanese waters or off the coast of California.

Equinor on Thursday said it has submitted a bid to build an offshore wind park off New York using fixed-base turbines.


(Reporting by Nerijus Adomaitis; Editing by David Goodman)

Categories: Offshore Wind Energy Offshore Energy Renewable Energy Industry News Asia Renewables

Related Stories

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Yinson Production Closes $1B Investment to Drive Further Growth

Wood JV Gets EPC Job for Shell off Brunei

Chuditch Gas Field Drilling Ops Get Delayed to Next Year

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

CIP Reaches Financial Close for Offshore Wind Farm in Taiwan

Current News

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Woodside Agrees Long-Term LNG Supply with Petronas Unit

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com