Korea National Oil Corporation (KNOC) has signed a cooperation agreement with Hyundai Heavy Industries to build a floating wind power plant at Donghae Gas Field 1 in the East Sea off South Korea. The gas field is located 58 km southeast of Ulsan, and will cease gas production in 2022.
The project aims to commercialise a floating offshore wind power generation model that is currently in the R&D stage in South Korea. KNOC is promoting a 200 MW floating wind power plant in the East Sea gas field by partnering with Korea East-West Power Co . and Norwegian state-run oil company Equinor .
Under the agreement, KNOC and Hyundai Heavy Industries will strengthen cooperation in floating offshore wind power projects. KNOC will take the lead in carrying out offshore wind power projects based on its experience of running offshore plants. Hyundai Heavy Industries will check the design, manufacture, and installation of floating offshore structures.