Offshore wind turbines off Jeju Island in South Korea
Equinor and EWP plan 3GW Korean floating offshore wind
The two companies join several developers exploring floating offshore wind development
Norway’s Equinor has signed a memorandum of understanding to develop 3GW of offshore wind with one of South Korea’s state-owned energy companies, East-West Power (EWP). South Korea has set a target for renewables to account for 34pc of its power capacity by 2030 and to develop an additional c.60GW of renewable energy capacity by 2034. The country also plans to bring 12GW of offshore wind capacity online by 2030. “South Korea aims to become one of the leading global markets for offshore wind in the next decade. Together with EWP, we are ready to contribute to the country’s plans in the short and the long term,” says Pal Eitrheim, Equinor’s executive vice-president for renewables. Equinor sugg
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