Government-owned KNOC is looking to develop a 200MW floating offshore wind project at its existing Donghae gas platform, located 58km off of Ulsan City on South Korea’s south-east coast.
Equinor is a leader in floating offshore wind. It operates the 30MW Hywind Scotland project, the world’s first commercial floating offshore wind farm, commissioned in 2017.
And it is considering supplying platforms at two oil and gas fields with power from an 88MW floating array off the coast of Norway.
The two partners plan to carry out feasibility studies to de-risk projects, KNOC’s senior vice president Jae-Heon Shim explained.
"Executing an MoU with Equinor will become a critical opportunity that will advance to practical steps of floating offshore wind in Korea," he added.
South Korea has 1,136MW of installed wind power capacity, according to Windpower Intelligence, the research and data division of Windpower Monthly. Offshore accounts for 38MW of this total.
Its government plans to increase its renewable energy capacity from just over 11GW today to 58.5GW by 2030, the ministry of trade, industry and energy announced in December 2017.