Norwegian company Deep Wind Offshore has signed an agreement with South Korea's East West Power (EWP) to collaborate on four projects totalling more than 4 GW of floating and bottom fixed offshore wind in South Korea. No further details have yet been communicated on the specific projects.
Deep Wind Offshore, a developer and owner of offshore wind projects formed in 2021, is jointly owned by Knutsen OAS, Haugaland Kraft and Sunnhordland Kraftlag. EWP, a Korean state-owned power generation companies, currently operates 11.2 GW of power generation facilities in South Korea.
In 2021, 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.