Macquarie’s Green Investment Group (GIG) and global energy company Total have signed a series of agreements to co-develop an initial 2.3 GW portfolio of floating offshore wind projects in Korea. The portfolio consists of five projects – three in Ulsan totaling 1.5 GW and two in South Jeolla Province totaling 800 MW.
Subject to the completion of regulatory approvals and satisfaction of other conditions precedent, the partners aim to start co-development activities in the autumn of 2020. GIG has already commenced a comprehensive wind data collection campaign to support the portfolio, and the first 500 MW phase of the Ulsan project is targeting commencement of construction by the end of 2023.
