Amsterdam Capital Partners, G8 Subsea Pte Ltd, the Saemangeum Development and Investment Agency of Korea and Saemangeum Offshore Wind Power have agreed to co-operate to develop renewable energy in the Saemangeum Industrial Complex, on the west coast of South Korea
Their plans for the area include 300 MW of offshore wind and up to 2.7 GW of floating photovoltaic.
AMSCAP and G8 will work alongside Saemangeum Offshore Wind Power (SOWP) in respect of the joint development of offshore wind from a financial and a technical perspective.
SOWP is a 100-MW fully permitted offshore wind project developed by SOWP. It is in its final development stage, with all permits, local and national, and regulatory approvals now secured.
AMSCAP founder Michael van der Heijden said, “SOWP has clearly paved the way for offshore wind in South Korea and we are very excited to contribute using our expertise and bringing financial partners to the region to execute this project and other offshore wind plans.”
G8 founder and managing director Gerald Tan said G8 aimed to become a leading developer of offshore wind projects in the region.
Saemangeum Development and Investment Agency (SDIA) is a central government agency responsible for the Saemangeum Project, a national development project established in 2013 by executive order. SDIA is in charge of administrative services and support.