Macquarie’s Green Investment Group (GIG) and global energy company Total have signed a series of agreements to co-develop an initial 2.3-gigawatt portfolio of floating offshore wind projects in Korea. The portfolio consists of five projects: three in Ulsan totaling 1.5 gigawatts and two in South Jeolla Province totaling 800 megawatts.
Subject to the completion of regulatory approvals and satisfaction of other conditions, the partners aim to start co-development activities in the fall of 2020. GIG has already commenced a comprehensive wind data collection campaign to support the portfolio, and the first 500-megawatt phase of the Ulsan project is targeting commencement of construction by the end of 2023.
To date, GIG has supported 16 offshore wind projects representing almost 5.5 gigawatts of capacity in construction and operations. GIG also has a global development pipeline of more than 25 gigawatts, including 4.5 gigawatts of offshore wind development capacity across
