A joint venture has been established by Shell Overseas Investments BV and CoensHexicon with the aim to develop and operate a 1.4GW floating offshore wind project off the southeast coast of South Korea.
The wind project called MunmuBaram is currently at a feasibility assessment stage. Once construction is complete it’s expected to generate up to 4.65TWh of clean energy every year.
The total project site covers an area of approximately 240km with water depths ranging between 120 and 160 meters making the site suitable for floating foundations.
The project will be developed in phases and once constructed and is located between 65 and 80 kilometres from the city of Ulsan South Korea.
“With Shell’s long-standing history in South Korea, we are proud to expand our activities into floating offshore wind. Korea’s capabilities in the fabrication of offshore facilities and shipbuilding could play a pivotal role in the development and fabrication of floating offshore wind foundations not only for Korea but also for the region and beyond,” said Joe Nai, Shell’s General Manager, Offshore Wind Asia.
The project has been collecting a range of measurements since August 2020, including critical offshore wind data at the project location.
With the collected data, MunmuBaram plans to apply for Electricity Business License (EBL) in September 2021.
“MunmuBaram is well-positioned to support South Korea’s energy transition,” said YoungKyu Ju, Project Director. “Whilst leveraging Shell’s global experiences and CoensHexicon’s local expertise, MunmuBaram will work closely with local partners and stakeholders to successfully develop one of the first floating offshore wind projects in Korea and contribute to the overall industry growth, local communities, and job creations.”
The proposed floating offshore wind project is aligned with South Korea’s goal to increase domestic renewable energy generation to 20% of the energy mix by the year 2030.