Norwegian state-owned corporations Equinor is pursuing a floating offshore wind farm project in the waters off Ulsan, and Korea Hydro & Nuclear Power (KHNP) is looking to invest in equity.
According to the energy industry on the 5th, KHNP is currently reviewing equity investment in the special purpose company (SPC) for the construction project of the "Ulsan Firefly" offshore wind farm, which is being pursued by the wholly owned subsidiary Firefly Energy of Equinor. The exact scale of the equity has not yet been determined.
Along with this, it is reported that one of the power generation subsidiaries under KEPCO is also exploring participation in the investment with KHNP.
The project aims to create a 750 megawatt (MW) floating offshore wind farm located approximately 70 kilometers from Ulsan Port, with a total project cost estimated at around 5.7 trillion won. It is targeted for completion by 2030, and upon completion, it is estimated to supply power to approximately 440,000 households annually.