MunmuBaram, a joint venture (JV) between Shell Overseas Investment and CoensHexicon Co Ltd, has confirmed plans to develop and operate a 1.4-GW floating offshore wind project off the southeast coast of South Korea
The project, which is currently at the feasibility assessment stage, is located between 65 and 80 km from the city of Ulsan, South Korea. The project site covers an area of approximately 240 km2 with water depths ranging between 120 m and 160 m, making the site suitable for floating foundations.
Subject to future investment decisions, the MunmuBaram project will be developed in phases and, once constructed, is expected to generate up to 4.65 terawatt hours of clean energy per year.
Shell general manager offshore wind Asia Joe Nai said, “With Shell’s long-standing history in South Korea, we are proud to expand our activities into floating offshore wind.
“Korea’s capabilities in the fabrication of offshore facilities and shipbuilding could play a pivotal role in the development and fabrication of floating offshore wind foundations not only for South Korea but also for the region and beyond.
“Shell views offshore wind energy as a key part of a net-zero energy system, both in South Korea and globally, and we are excited to work with our partner, CoensHexicon, on this opportunity which could, if realised, provide renewable power from floating offshore wind to over 1M South Korean households.”
CoensHexcion chief executive Steve Seo said, “We are excited to be part of MunmuBaram and to have joined forces with Shell on this exciting project.”
Since August 2020, the companies have been collecting a range of measurements, including offshore wind data at the project location. With the collected data, MunmuBaram plans to apply for an Electricity Business Licence in September 2021.
In July 2021, MunmuBaram conducted geophysical surveys and is now conducting a geotechnical survey.
Shell has an 80% stake in the MunmuBaram JV and CoensHexicon 20%.
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