SK joins TotalEnergies-Corio offshore wind partnership in Korea

SK ecoplant, a construction engineering company part of SK Group, will buy a stake in a 2-GW-plus offshore wind project portfolio in South Korea and thus join its development alongside TotalEnergies SE (EPA:TTE) and Corio Generation.

Subject to governmental clearance, SK ecoplant will enter into a partnership to co-develop the BadaEnergy portfolio comprising the 1.5-GW Gray Whale floating wind project and some other floating and fixed-bottom schemes off the coast of Ulsan and South Jeolla province. In total, there are five projects within the portfolio and four of them have already obtained electric business licenses (EBLs).

“[SK ecoplant’s] participation will help to accelerate the development of our projects and to build a strong relationship with the local economy, creating jobs, and building an ecosystem for the South Korean offshore wind power industry and its supply chain,” commented Jungwon Shin, Country Chair Korea of TotalEnergies.

The trio will seek to achieve commercial operation for the projects by 2027.

In 2018, the construction unit of the Korean conglomerate secured an EBL for a 136-MW offshore wind project off the southeast coast of Ulsan, thereby taking its first step in the offshore wind power market.

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