KEPCO signs transmission deals for two floating wind power projects off South Korea (2.2 GW)

Two floating offshore wind projects to be developed in South Korea and totalling 2,250 MW have secured a transmission service agreement (TSA) with Korea Electric Power Corporation (KEPCO). The Swedish renewable company Hexicon AB has signed a TSA with KEPCO for its 1,125 MW MunmuBaram floating offshore wind project, while developers Mainstream Renewable Power and Ocean Winds have secured grid connection for their 1,125 MW KF Wind floating wind project (consisting of 375 MW East Blue Power and 750 MW KF Wind) . 

Both projects are located off the coast of Ulsan, in southern South Korea. Both projects were also recently awarded an Environmental Impact Assessment (EIA) approval by the Korean Ministry of Environment. The Ulsan floating offshore wind cluster is expected to have a total capacity of around 6 GW once completed.

At the end of 2023, offshore wind accounted for less than 1% of South Korea’s installed capacity (136 MW). South Korea has set a target to reach 12 GW of offshore wind capacity by 2030.