French energy giant Total has entered into agreements with Macquarie’s Green Investment Group (GIG) to develop a portfolio of offshore floating wind projects in South Korea.
The partners will initially develop five projects, with three in Ulsan and two in South Jeolla province. The projects are expected to kick off in autumn once regulatory permits are secured.
GIG has already started a wind data collection campaign to support the portfolio.
“Our entry in the floating offshore wind segment in South Korea is in line with Total’s strategy to profitably develop renewable energy worldwide and contribute to our net zero ambition,” said Patrick Pouyanne, chairman & CEO of Total.
The agreement comes as part of the South Korean government’s target of achieving 12 gw of offshore wind capacity by 2030.
“Thanks in large part to the country’s world-class shipbuilding and marine plant infrastructure, GIG and Total see significant opportunities for floating offshore wind in Korea,” said Mark Dooley, global head of GIG.