Equinor has signed a Memorandum of Understanding with Korean East-West Power to cooperate on 3 GW of offshore wind projects in South Korea. Together the partners will contribute significantly to the country’s ongoing energy transition and development of an offshore wind industry in Korea. Equinor’s partnership with EWP, one of Korea’s state-owned power generation companies, provides a strong basis for the offshore wind major to take a leading role in developing a pipeline of offshore wind projects needed.The MoU between Equinor and EWP confirms Equinor’s strategy of accelerating profitable growth in renewables by creating value from early access at scale in attractive markets, in collaboration with partners that share its vision and goals. Given the Korean coastal water depths, floating solutions are required to realise the South Korean Government’s renewables ambitions. Equinor will bring its decades of floating wind experience and offshore technology to the partnership, including O&M expertise.The Korean Government has set out an ambition to grow renewables by ~60 GW to 2034, of which 12GW is targeted for offshore wind by 2030.
Equinor has signed a Memorandum of Understanding with Korean East-West Power to cooperate on 3 GW of offshore wind projects in South Korea. Together the partners will contribute significantly to the country’s ongoing energy transition and development of an offshore wind industry in Korea. Equinor’s partnership with EWP, one of Korea’s state-owned power generation companies, provides a strong basis for the offshore wind major to take a leading role in developing a pipeline of offshore wind projects needed.The MoU between Equinor and EWP confirms Equinor’s strategy of accelerating profitable growth in renewables by creating value from early access at scale in attractive markets, in collaboration with partners that share its vision and goals. Given the Korean coastal water depths, floating solutions are required to realise the South Korean Government’s renewables ambitions. Equinor will bring its decades of floating wind experience and offshore technology to the partnership, including O&M expertise.The Korean Government has set out an ambition to grow renewables by ~60 GW to 2034, of which 12GW is targeted for offshore wind by 2030.
