The company aims to strengthen its position in the global floating wind power market through a major project off Ulsan's coast
Category: Business
In a notable development for South Korea's renewable energy sector, SK Ocean Plant has been selected as the preferred supplier for floating structures by Korea Floating Wind (KF Wind), the country's largest floating offshore wind power developer. This selection marks a strategic move as the company aims to capitalize on the growing demand for renewable energy solutions.
The agreement was formalized during a ceremony held at the KF Wind office in Ulsan, where key representatives from both companies celebrated the partnership. Kim Jung-hoon, head of marketing and PM center at SK Ocean Plant, and Park Jang-ho, head of business operations at KF Wind, were present for the signing, underscoring the significance of this collaboration.
Korea Floating Wind is currently developing a floating offshore wind farm in the exclusive economic zone (EEZ) located approximately 80 kilometers from Ulsan. The project will have a total capacity of 1,125 megawatts (MW), which is expected to generate around 4,000 gigawatt-hours (GWh) of renewable energy annually upon completion. This output will satisfy approximately 12% of Ulsan's annual power demand, enough to power around one million households.
The floating structures, also known as buoyancy devices, are set to be produced at SK Ocean Plant's third factory in Goseong, which is scheduled for completion in 2028. This facility will play a key role in the production process, enabling SK Ocean Plant to become a leading manufacturer in the floating offshore wind sector.
SK Ocean Plant has a solid history in providing fixed offshore structures for wind projects across Taiwan, Japan, and Europe. With this recent selection, the company is set to reinforce its position as a leading manufacturer in the floating offshore wind market, which has been gaining traction globally. This strategic partnership is expected to open up new opportunities in South Korea and in international markets.
According to Kang Young-kyu, CEO of SK Ocean Plant, “It is very meaningful to participate in Korea's representative floating wind power project alongside a global leader in offshore wind energy.” He emphasized the company's commitment to fostering a K-floating industry ecosystem that supports regional industrial growth.
The collaboration with KF Wind is particularly strategic, as Ocean Winds, a joint venture between global energy giants EDP Renewables and ENGIE, holds a stake in the project. Ocean Winds is actively involved in developing, constructing, and operating 19 offshore wind projects across eight countries, including South Korea.
Their experience and technological advancements, such as the successful commercialization of the world’s first semi-submersible floating wind technology through the WindFloat Atlantic project in Portugal, will be invaluable in ensuring the success of the Ulsan project.
As the demand for renewable energy sources continues to rise, floating wind power is becoming a focal point for energy strategies worldwide. The floating wind farm off Ulsan is expected to contribute significantly to the local energy supply and position South Korea as a key player in the global floating wind market.
Park Jang-ho, head of business operations at Korea Floating Wind, noted, “SK Ocean Plant is a verified partner with proven technology in large structure manufacturing and quality management. This collaboration will empower the floating wind power industry in Korea to achieve global competitiveness.”
This project is part of a broader trend in South Korea's energy policies, which are increasingly focused on sustainable and renewable energy sources. With the government’s support and initiatives aimed at reducing carbon emissions, the floating wind farm is a step toward achieving these ambitious energy goals.
In addition to the environmental benefits, the project is expected to create numerous job opportunities in the region, enhancing local economic development. As SK Ocean Plant prepares to ramp up production and expand its capabilities, the implications for the South Korean workforce could be substantial.
As the project progresses, the collaboration between SK Ocean Plant, Korea Floating Wind, and Ocean Winds will be closely watched by industry experts and stakeholders. The success of this initiative could pave the way for more floating wind projects, not just in South Korea but across the globe, as countries seek innovative solutions to meet their energy needs.
With the floating wind farm set to be a major contributor to the region’s renewable energy production, the eyes of the international community will be on Ulsan as the project develops. The first turbines are expected to start generating power by the time the facility is operational, marking a new chapter in South Korea's renewable energy story.
As the world continues to grapple with climate change and the need for sustainable energy solutions, the floating wind power sector is likely to play a key role in shaping the future of energy production. The collaboration between SK Ocean Plant and Korea Floating Wind is a promising step toward realizing this vision.
In the coming years, as the technology matures and the industry expands, floating wind farms could become a common sight along coastlines worldwide, contributing to a greener and more sustainable future.