Amsterdam Capital Partners, G8 Subsea, and Saemangeum Offshore Wind Power have signed a partnership to jointly develop 300 MW of offshore wind and up to 2.7 GW of floating solar PV capacity in the Samangeum Industrial Complex, located off the west coast of South Korea. No commissioning date has yet been announced, nor amounts to be invested.
The Saemangeum Industrial Complex is a 409 km2 area that was established in 2013 and is developed by the parastatal Saemangeum Development and Investment Agency. The area includes the 100 MW Saemangeum Offshore Wind Power project, which is its final development stage after securing all permits and regulatory approvals.
Amsterdam Capital Partners is a financial advisor specialised in offshore wind and G8 Subsea a subsea engineering solution provider.
As part of its “Renewable Energy 30-20” plan, South Korea aims to accelerate the development and adoption of renewables. The government targets a 20% share in the electricity mix by 2030, with 49 GW of new generation capacity from renewables, including 13 GW of offshore wind capacity.
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