Shell and CoensHexicon Co. Ltd have signed an agreement to develop, construct and operate a floating offshore wind farm in South Korea.
According to CoensHexicon, initial project development started early this year for the wind farm which will be located circa 40km off the coast of Ulsan.
The parties have already formed a project company in Busan, called TwinWind Development Co. Ltd, and obtained a lease offshore Ulsan, Henrik Baltscheffsky, Hexicon CEO and CoensHexicon Director, said.
“This is the start of our commercial journey in South Korea and similar places around the globe,” said Baltscheffsky . “Our collaboration with Shell will contribute a wealth of skills and expertise when it comes to developing and operating a large floating wind farm. This includes serial manufacturing in South Korea of the patented multi-turbine foundation design developed by Hexicon in Sweden.”
To remind, Swedish Hexicon and South Korean COENS formed the CoensHexicon joint venture company last year with an aim to transfer the Hexicon floating platform technology to Korea and offer serial production of Korea-manufactured units for floating wind in the local and other agreed markets.
The parties signed a Memorandum of Understanding (MoU) with the City of Ulsan early this year to build and maintain floating wind farms, as well as to create a local supply chain in South Korea.