The contract signing targets are five floating offshore wind power projects currently underway in the waters off Ulsan: ▲Korea Floating Wind Power (Ocean Winds, Mainstream, Geumyang Green Power) 1.125 GW, ▲MunmuBaram Power (Shell, Hexicon) 1.125 GW, ▲Haewoorie Offshore Wind Power Generation 1, 2, 3 (CIP) 1.5 GW, ▲Gray Whale Offshore Wind Power Generation 1, 2, 3 (Corio-generation, Total Energies, SK Ecoplant) 1.5 GW, and ▲Bandibuli Energy (Equinor) 0.75 GW. The signing of the transmission power facility usage contract between the five developers and KEPCO will connect a total of 6GW of clean power to KEPCO’s power grid, which will ensure a stable and reliable power supply by efficiently transmitting the clean energy produced by each floating offshore wind power plant to the land, while also maximizing the project’s contribution to the expansion of domestic renewable energy supply.
In particular, the signing of this usage contract is the first time that each company has received a confirmation from KEPCO to use the transmission network through the joint connection of gigawatt (GW)-class large-scale new and renewable power generation facilities since the power generation business permit was issued several years ago. The five Ulsan floating offshore wind power projects are aiming to complete the transmission and substation system configuration by the start of each project’s use after completing major procedures such as the wind power fixed-price contract bidding, and to complete the grid boosting. To this end, each company plans to optimize all stages of project development, including licensing, design, procurement, construction, and installation, and to do its best to advance the process for stable operation in the future.
Park Jang-ho, the chairman of the Ulsan Floating Offshore Wind Power Association and head of the Korea Floating Wind Power Business Group, said, “This contract for the use of transmission facilities with KEPCO will be another important milestone for the five floating offshore wind power projects currently underway in the waters off Ulsan,” and added, “We expect it to contribute to taking another step forward toward achieving Korea’s goal of transitioning to renewable energy.”
Lee Kyung-yoon, head of KEPCO’s Busan Ulsan headquarters, who signed the contract on behalf of KEPCO that day, said, “The significance of this contract lies in the fact that KEPCO has closely examined the impact of GW-class offshore wind power generation on the power grid in cooperation with the developer from the power generation project approval stage and has devised a plan to stably connect it to the power grid,” and added, “This project will greatly contribute to the realization of our country’s energy transition policy and revitalization of the local economy, so we plan to actively cooperate so that future projects can be promoted in a timely manner.”
Meanwhile, as the Ulsan Floating Offshore Wind Power Plant recently completed the environmental impact assessment with the Ministry of Environment, each company is accelerating its development preparations. When the power plant is completed in the future, it will be the world’s largest floating offshore wind power plant, supporting the realization of the domestic carbon neutrality goal while contributing to the training of professional personnel and job creation, and seeking to vitalize the local economy, and aiming to coexist with the local community throughout the entire development process.
