Korea Midland Power (KOMIPO) has signed a memorandum of understanding (MOU) with Hyundai Heavy Industries to create a floating power plant (FPP) business.
FPPs can easily be relocated and are therefore an ideal solution for power production on an interim basis as they can be connected to the grid to alleviate local power shortages where and when needed. They can also provide a rapid answer to increased power demand in advance of coming land based power plants.
Countries in Southeast Asia and Africa in particular have shown a keen interest to invest in FPPs recently.
