Equinor partners with EWP in South Korea to develop 3 GW of offshore wind

18 Nov 2021

Equinor has signed a Memorandum of Understanding (MoU) with Korean East-West Power (EWP) to develop 3 GW of offshore wind projects in South Korea. EWP is an affiliate of the state-owned power utility Korea Electric Power Corporation (KEPCO).

South Korea had an electricity capacity of 129 GW in late 2020 (41 GW of gas, 37 GW of coal, 23 GW of nuclear, 16 GW of solar, 6.5 GW of hydropower, 2.2 GW of oil, 1.7 GW of wind, and 1.3 GW of biomass) and aims to raise the renewable capacity by around 60 GW to 2034, of which 12 GW is targeted for offshore wind by 2030.

GIG (Macquarie) and TotalEnergies are developing a 1.5 GW floating offshore wind project in Ulsan (South Korea) and Shell partnered with CoensHexicon in September 2021 to create a joint venture to develop and operate a 1.4 GW floating wind project off the south-east coast of South Korea. The MunmuBaram joint venture is 80% owned by Shell and 20% by CoensHexicon.

Register to receive our daily newsletter

Interested in Power Plants?

Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.

Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.