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Republic of Korea for a capacity of 450 MW.
Obtaining the second EBL represents another key step towards realizing the
world’s first large scale commercial floating wind project. The EBL is a
mandatory requirement to generate and supply electricity in South Korea and
follows the 870 MW EBL that KF Wind was granted at the end of January 2022.
Overall, 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), and able to
power the equivalent of over 1.3 million households.
“This second EBL secures us continued exclusive development rights in the East
Blue Power area, which KF Wind is developing in collaboration with our partner
Kumyang Green Power, an Ulsan-based electrical engineering company and renewable
energy developer. Kumyang plays an important role in supporting KF Wind’s
relationship with the local administrations and the local communities, and in
the engagement with the supply chain,” said Guzman Figar, Project Director of KF
Wind.
“Ocean Winds celebrates this second success, and we are very proud of the
efforts of our South Korean team in building relationships of trust with our
stakeholders. We are coming together to realize this key floating offshore wind
project for South Korea which will contribute toward the national energy
transition to decarbonize, as well as the economic development of the region of
Ulsan. KF Wind could contribute up to 77 percent of content manufactured in
Korea, of which around 63 percent would be fabricated in the Ulsan area,
resulting in the creation of thousands of jobs and the reindustrialization of
the region,” said Grzegorz Gorski, Chief Operating Officer of Ocean Winds.
“Following the first EBL granted earlier this year, I am very pleased to see KF
Wind awarded the second EBL. 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. Together with our
partners, we are on track to build in Ulsan the world’s first industrial-scale
floating offshore wind farms by 2028,” said Philippe Kavafyan, Chief Executive
Officer of Aker Offshore Wind.
KF Wind has already commenced most of the field studies and is continuing its
engagement with key local users of the ocean as required to secure the remaining
permits. The permits are expected to be approved during 2023, with the objective
of reaching financial close in 2024.
Ocean Winds: Jose Miguel Mesa josemiguel.mesa@oceanwinds.com
Aker Offshore Wind: Maria Lanza Knudsen, media
contact, maria.knudsen@akeroffshorewind.com
Aker Offshore Wind: Christian Yggeseth, investor relations,
christian.yggeseth@akerhorizons.com
About KF Wind
KF Wind is a project being developed offshore Ulsan, South Korea. KF Wind is a
joint venture company owned by Ocean Winds (66.7 percent) and Aker Offshore Wind
(33.3 percent). The first EBL of 870MW is KF Wind’s exclusively while the second
EBL is a partnership between KF Wind and Kumyang Co.
Project Statistics:
· Capacity: EBL capacity at 1,320 MW (EBL1 870 MW + EBL2 450 MW), grid
capacity at 1,200 MW
· Location: 80km off the coast of Ulsan, South Korea
· Power generation: 4,000GWh of electricity annually to power the equivalent
of over 1.3 million households
· Environmental benefits: Reduce nearly 3 million tCO\2\eq greenhouse gas
emissions every year
For more information visit www.koreafloatingwind.kr
About Ocean Winds
Ocean Winds (OW) is an offshore wind energy joint venture owned 50:50 by EDP
Renewables and ENGIE. Both companies believe that offshore wind is becoming an
essential part of the global energy transition, which will lead to rapid growth
in the sector and increased competitiveness. They have therefore included their
entire portfolio of existing and ongoing offshore projects in the new company.
OW has a strategic advantage and a privileged position to play a leading role in
the offshore market. EDPR and ENGIE have combined their offshore wind assets and
project portfolio in OW, starting with a total of 1.5 GW under construction and
4 GW under development, with a target of 5-7 GW of projects in operation or
under construction and 5-10 GW in advanced stages of development by 2025.
OW, headquartered in Madrid, currently has a presence in 8 countries and is
mainly targeting markets in Europe, the United States and selected geographies
in Asia, where most of the growth is expected to come from.
www.oceanwinds.com
About Aker Offshore Wind
Aker Offshore Wind is an offshore wind developer focused on assets in deep
waters and specialized on floating energy systems. With global operations, the
current portfolio consists of development projects and prospects located in
Asia, North America and Europe. Aker Offshore Wind effectively deploys cost
effective technologies from decades of offshore energy development. The company
is majority-owned by Aker Horizons, an investment company dedicated to creating
value and reducing emissions from renewable energy and decarbonization
technologies. Aker Offshore Wind [AOW-ME] is listed on Euronext Growth in Oslo,
Norway.
www.akeroffshorewind.com
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