Norway's Deep Wind Offshore enters 4-GW Korean partnership

Norwegian developer Deep Wind Offshore has teamed up with South Korean state-owned utility East West Power to jointly work on a 4-GW-plus portfolio of Korean offshore wind projects.

The companies have signed a Memorandum of Understanding (MoU) that outlines their partnership on four projects utilising either floating or bottom-fixed technologies, Deep Wind said on Thursday.

Specific details about the proposed schemes were not shared.

“The complementary capabilities of our companies create a solid foundation for successfully developing the projects to benefit the energy transition in Korea and provide opportunities for the national supply chain and local communities,” said Knut Vassbotn, CEO of Deep Wind Offshore.

The partners highlighted South Korea’s available infrastructure to support the development of offshore wind projects, including the shipbuilding and steel industries. According to them, this will make their joint initiative “more stable and feasible.”

Deep Wind Offshore was set up in 2020 to develop and own offshore wind projects. Last year, it formed a 50/50 joint venture with EDF Renewables to bid for acreage in Norwegian offshore tenders. Its plans in Sweden envisage 1.5 GW of offshore wind farms.

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