Equinor has signed a memorandum of understanding with state-owned Korean East-west Power (EWP) to develop 3 gigawatts of offshore wind projects in South Korea, as part of the Korean government’s ambition to grow renewables by approximately 60 gigawatts to 2034, of which 12 gigawatts is targeted for offshore wind by 2030.
“South Korea aims to become one of the leading global markets for offshore wind in the next decade. Together with EWP, we are ready to contribute to the country's plans, in the short and the long term,” said Pål Eitrheim, executive vice president in renewables in Equinor. “We want to develop the first commercial floating offshore wind farm in South Korea. We have worked with the Korean supply chain for many years and know its qualities and capabilities. We see a big potential to leverage our experience in building a new industry together with Korea's world-class supply chain.”
