Total and Macquarie’s Green Investment Group (GIG) have concluded a 50/50 partnership to develop a ‘portfolio’ of five large floating offshore wind projects in South Korea with a potential accumulated capacity of more than 2GW.

Located off the eastern and southern coasts of the country (Ulsan and South Jeolla provinces), the projects have commenced on-site comprehensive wind data collection (pictured above). The partners aim to launch construction of the first project of around 500MW by the end of 2023.

With its announcement of the ‘Green New Deal’ plan in July, South Korea has ‘re-affirmed its ambitions’ to develop renewable energies with the aim of reaching at least 20% of the power mix by 2030, including 12GW of offshore wind capacity.

Patrick Pouyanné, Total chairman and CEO, said: “Our entry in the floating offshore wind segment in South Korea is in line with Total’s strategy to profitably develop renewable energy world-wide and contribute to our net-zero ambition. We strongly believe in the potential of floating offshore wind in South Korea, which will play a key role in achieving the country’s renewables objectives.

“Thanks to its extensive experience in offshore projects, in co-operation with many Korean shipyards, Total is particularly well positioned to contribute to the successful development of this new technology in South Korea together with our partner GIG.

“We are indeed very keen to expand our long-term co-operation with South Korea, contribute to the diversification of its energy mix and support the emergence of a new industrial sector by maximising Korean content within the supply chain of these projects.”