lGIG signed an MoU with Ulsan Metropolitan City and the British Embassy Seoul to revitalize the local economy and create quality jobs through the Ulsan floating offshore wind project.lGIG works with TotalEnergies, a global multi-energy company, to promote 1.5-gigawatt floating offshore wind farm projects off the coast of Ulsan, and under this agreement, plans to accelerate the localization of the project.lHead of GIG Korea Joanne Rhee says, “Through cooperation, we will actively support Ulsan so that the city, which is based on the traditional manufacturing industry, can transform itself into a clean energy hub by introducing wind power that is considered one of the next-generation energy sources.   (March 7, 2022) Green Investment Group (GIG), a global leading green energy development and investment company, signed a memorandum of understanding (MoU) on March 4 with Ulsan Metropolitan City Government and the British Embassy Seoul to promote interactive cooperation in the offshore wind project in Ulsan. The signing ceremony held at Ulsan City Hall was attended by Head of GIG Korea Joanne Rhee, Ulsan Metropolitan City Mayor Song Cheol-ho, and British Ambassador to Korea Colin Crooks LVO. They agreed to actively establish a mutual cooperative relationship to successfully carry out the Ulsan floating offshore wind project after obtaining the electricity business license (EBL), and consequently, to revitalize the local economy and create quality jobs in the city. Under this agreement, GIG will prioritize the revitalization of the local economy and job creation in the development process of not only Ulsan floating offshore wind project but also offshore wind and renewable energy projects to be it conducted in Korea. Ulsan Metropolitan City will actively provide administrative support to ensure that GIG can push forward the projects in cooperation with Korean companies.  In accordance with its policy of localizing all stages of offshore wind projects in Korea, GIG aims to revive the stagnant shipbuilding and offshore plant industries through active collaboration with shipbuilding and heavy industry-related companies in Ulsan and to revitalize the local economy in Ulsan by creating jobs. In addition, with this agreement as an opportunity, GIG plans to further accelerate the localization of its project. In September last year, GIG and TotalEnergies, a global multi-energy company that jointly develops the Ulsan floating offshore wind project, concluded an MoU with Ulsan Metropolitan City Government, universities and companies in the city, and the Korea Wind Energy Industry Association to localize the supply chain and equipment for the floating offshore wind project. In December of last year, GIG and TotalEnergies also signed an MoU with the Ulsan Chamber of Commerce and Industry and developers of the Ulsan floating offshore wind farm for mutual cooperation in and growth of the Ulsan floating offshore wind project. They are members of the Ulsan Floating Offshore Wind Power Committee. Currently, GIG and TotalEnergies are promoting 1.5-gigawatt floating offshore wind projects (project name: Gray Whale Offshore Wind Farm I, II, III) in public waters 60 kilometers east of Ulsan Port. They obtained the EBLs for Grey Whale II and III last year and for Grey Whale I in late February this year from the Electricity Regulatory Commission under the Ministry of Trade, Industry and Energy. “Our 1.5-gigawatt offshore wind power development project in Ulsan with TotalEnergies is going to take the first step in earnest as we have acquired the EBL for the project,” says Head of GIG Korea Joanne Rhee at the signing ceremony. “GIG’s development principle is the co-prosperity with the local economy and communities through localization of its projects, and we will actively support Ulsan with our partner TotalEnergies so that the city, which is based on the traditional manufacturing industry, can transform itself into a clean energy hub by introducing wind power that is considered one of the next-generation energy sources.” “Wind power is one of the main resources of renewable electricity in the U.K., and GIG has played a pivotal role in related businesses,” Colin Crooks, British Ambassador to Korea, also says. “We will spare no effort to support the Ulsan offshore wind project that GIG is promoting so that it will become a major renewable energy project in Ulsan.” Photo 1) GIG signed an MoU with Ulsan Metropolitan City and the British Embassy Seoul to promote interactive cooperation in the offshore wind project in Ulsan.Photo 2) GIG signed an MoU with Ulsan Metropolitan City and the British Embassy Seoul to promote interactive cooperation in the offshore wind project in Ulsan. 

GIG and TotalEnergies Sign a MoU with Ulsan Chamber of Commerce and Industries to Promote Mutual Cooperation and Growth for Ulsan FOSW Project   lUnder the MoU, GIG and TotalEnergies will be a participant in the ‘Ulsan Floating Offshore Wind Developers Committee’; the Committee to be consisting of the Ulsan Chamber of Commerce and Industries, and the five Ulsan floating offshore wind developers lShin Jungwon, Country Chair of TotalEnergies Korea, said: “Ulsan city has a tremendous potential with infrastructure and resources suitable for the floating offshore wind farm development such as unique set of local competencies, extensive shipbuilding know-how …We will work together with partners to make Ulsan grow as one of the prominent regions in the global FOSW markets.”   (December 9, 2021, South Korea) Green Investment Group (GIG), a global leading green energy development and investment company, and TotalEnergies, a global multi-energy company, signed a memorandum of understanding (MoU) on the 8th with the Ulsan Chamber of Commerce and Industries (UCCI) and the Ulsan floating offshore wind developers to promote mutual cooperation and growth for FOSW projects in Ulsan, and agreed to participate as a member of the ‘Ulsan Floating Offshore Wind Developers Committee.’   The newly organized Ulsan Floating Offshore Wind Developers Committee (the “Committee”) will be consisting of the Ulsan Chamber of Commerce and Industries (UCCI) and the five private developers - Gray Whale Offshore Wind Power (a joint company from GIG and TotalEnergies), Korea Floating Wind Power, Haewoori Offshore Wind, Firefly Floating Offshore Wind, and Munmubaram.   The signing ceremony was attended by Ulsan City Mayor Song Cheol-ho, Chairperson of UCCI Lee Yun-cheol, and the representatives from the five private developers. Through the agreement, the parties have pledged to actively forge cooperative relationship - UCCI plans to support the Committee’s activities, and the private developers will seek ways to foster a supply chain for the floating offshore wind project in Ulsan.   The 1.5GW-sized Ulsan floating offshore wind farm projects (project name: Gray Whale Offshore Wind Power I, II, III), now being developed by GIG and TotalEnergies, are located in public waters about 60km east from Ulsan Port. Once the projects are completed by its third phase, they are expected to make a big contribution to the achievement of ‘2050 Carbon-Neutral City Ulsan,’ the ‘vision of great energy transition’ declared by the city earlier this year. The projects are forecast to produce enough electricity to power the equivalent of 1.6 million households each year as well as to reduce carbon dioxide emissions by 2.3 million tons annually.   Especially with Gray Whale Offshore Wind Power project having obtained the first EBL for the floating offshore wind project from the Electricity Regulatory Commission at the Ministry of Trade, Industry and Energy (MOTIE) last July, followed by Gray Whale 3’s recent EBL obtainment, GIG and TotalEnergies plan to give traction to their projects by actively cooperating with Ulsan’s initiative, to revitalize the regional economy through the localization of supply chain and equipment for the Ulsan FOSW projects. Also, the companies aim to create a new ecosystem for the floating offshore wind industry in Korea by constantly expanding partnerships with heavy industry-related companies in Ulsan’s shipbuilding and offshore plant sector, which have the world’s best technology and experience, and to contribute to the revitalization of local economy and job creation by directly hiring people in Korea for the project. As part of this plan, GIG and TotalEnergies had signed a memorandum of understanding(MoU) with UNIST in January 2021 to design and deliver a training program which would develop local expertise in floating offshore wind and further support job creation in the region. The lecture series on the floating offshore wind, scholarships and internship programs had been developed together with UNIST. In addition to that, GIG and TotalEnergies also had signed a memorandum of understanding(MoU) for local supply chain and equipment development for the FOSW projects in Ulsan last September with the Ulsan metropolitan city government, the city's regional universities and companies, and the Korea Wind Energy Industry Association (KWEIA).  “As installation and transport take up large portion of the floating offshore wind farm, Ulsan city has a tremendous potential with infrastructure and resources suitable for the floating offshore wind farm development such as unique set of local competencies, extensive shipbuilding know-how,” said Shin Jungwon, Country Chair of TotalEnergies Korea, at the signing ceremony of MOU with UCCI. “TotalEnergies has built a long-established relationship with Korean Shipyard with most of TotalEnergies’ offshore platforms and carriers built at the shipyards in Geoje and Ulsan. Leveraging its experience and strong partnership with Korea’s heavy industry, we will work together with partners to support the local supply chain and to make Ulsan grow as one of the prominent regions in the global FOSW markets.” Photo 1) GIG and TotalEnergies signed a memorandum of understanding (MoU) on the 8th with the Ulsan Chamber of Commerce and Industries (UCCI) and the Ulsan floating offshore wind developers.Photo 2) GIG and TotalEnergies signed a memorandum of understanding (MoU) on the 8th with the Ulsan Chamber of Commerce and Industries (UCCI) and the Ulsan floating offshore wind developers. 

GIG and TotalEnergies Organizing Visit to Advanced Offshore Wind Farm for Residents of Maenggoldo and Geochado Seeking to Facilitate Communication with the Residents as well as Develop the Local Community   lGIG and TotalEnergies organized a field trip to the Hanrim and Tamra offshore wind farms and nearby community in Jeju together with the Maenggoldo and Geochado villagers’ committees and local residents while seeking to develop the local communitylGIG and TotalEnergies are pushing forward the offshore wind projects with a total of 2.5-gigawatt capacity, including 1-gigawatt wind farm in South Jeolla Province and a 1.5-gigawatt wind farm in Ulsan   (November 26, 2021) – Green Investment Group (GIG), a global leading green energy development and investment company, and TotalEnergies, a broad energy company, announced that they organized a three days of field trip to the advanced offshore wind farms in Jeju by visiting nearby villages and fishing villages with the residents of Maenggoldo and Geochado in Jindo-gun, South Jeolla Province, 2 times respectively, from November 10 to 23.   This tour has been prepared to facilitate communication with local residents of villages near the 400-megawatt offshore wind power complex, which GIG and TotalEnergies are promoting in the southwest coast of Maengoldo and also to ensure co-prosperity with the local community from the early stage of the project for building the complex.   During the three-day tour from November 10, the Maenggoldo Villagers Committee and local residents of the islands visited the advanced Hanrim and Tamra offshore wind farms in Jeju. They shared diverse opinions while discussing ways to make sure that the creation of an offshore wind power complex could be practically helpful to the residents. The East and West Geochado Villagers Committees and the residents also participated in the tour from November 21 to 23 to enhance their understanding of the offshore wind farm project being promoted in the region and to explore a development plan suitable for their local conditions.    GIG and TotalEnergies are focusing their efforts on enhancing communication with local residents. Last April, they signed a cooperative agreement with the Maenggoldo Villagers Committee and pledged to establish specific cooperation goals to pursue co-prosperity with the fishery and aquaculture industry of the region while promoting the offshore wind farm project.   GIG and TotalEnergies also made cooperative agreements with the East and West Geochado Villagers Committees in June and July, respectively. Under the agreements, the two companies will make the project a model case of wind farm through continuous communication and cooperation with the local communities across all stages of the project. To this end, the committees will provide necessary cooperation to develop the offshore wind project, while the two companies will sincerely negotiate with the committees, on measures to ensure that the project coexists with the fishery industry and compensates for fishery loss, etc.    During the tours, “I’ve only heard of the offshore wind farm but had no idea how it will look like, I finally realized it from the operating wind farm in front of my eyes. I was able to witness the various effect that an advanced offshore wind farm could bring to the development of a local community,” said Lim Cheon-dong, the chairperson of the Maenggoldo villagers committee. “It was a meaningful time for us to have discussions with the residents of the villages near those wind farms and we could think over some concrete measures to revitalize our community and cooperate with the project developer to ensure the desirable development of Maenggoldo community.”   “We are confident that the Maenggoldo project can be an example of offshore wind farm co-existing harmoniously with the local community, accelerating permitting process including firstly Electrical Business License thanks to the strong support of local residents.” Jo Kwang-won and Han Hyun-Jae, the chairpersons of East and West Geochado villagers committees added their voices.   GIG and TotalEnergies are carrying forward projects to establish offshore wind farms with a total capacity of 2.5 gigawatts, including a 1-gigawatt wind farm near Geomundo in Yeosu city and Maenggoldo in Jindo-gun, South Jeolla Province, and a 1.5 wind farm in the east coast of ​​Ulsan Metropolitan City. Photo 1) GIG and TotalEnergies organized a field trip to the Hanrim and Tamra offshore wind farms and nearby community in Jeju together with the Maenggoldo and Geochado villagers’ committees and local residents while seeking to develop the local community.Photo 2) GIG and TotalEnergies organized a field trip to the Hanrim and Tamra offshore wind farms and nearby community in Jeju together with the Maenggoldo and Geochado villagers’ committees and local residents while seeking to develop the local community. 

‘International Forum of Floating Offshore Wind Farm 2021’ lGIG and TotalEnergies shared the progress of Ulsan’s floating offshore wind farm project and cases of cooperation with the local community at the International Forum of Floating Offshore Wind Farm 2021.lIn a keynote speech video, Julien Pouget, Senior Vice President of the Renewables division at TotalEnergies, stressed the huge potential of Korea's offshore wind power project, such as the offshore wind power capacity to be increased, high expertise and research and development technologies of the Korean shipbuilding and offshore plant industries, and the long-standing partnerships with Korean companies.lThe 1.5-gigawatt wind farm being developed in Ulsan by GIG and TotalEnergies is expected to become one of the world’s largest floating offshore wind parks if all three phases are completed.  (October 7, 2021) – Green Investment Group (GIG), a global leading green energy development and investment company, and TotalEnergies, a broad energy company, announced that they would put a focus of the Ulsan floating offshore wind power project on creating an ecosystem in which they can co-prosper with the local community. At the International Forum of Floating Offshore Wind Farm 2021 held at the Ulsan Exhibition and Convention Center for two days starting October 6, Choi Woo-jin, GIG’s managing director in full charge of Korea’s offshore wind power project, emphasized the importance of creating an ecosystem for co-prosperity with local communities while sharing the progress of Ulsan’s floating offshore wind farm project (project name: Gray Whale I, II, III) and cases of cooperation with the local community. Julien Pouget, Senior Vice President of the Renewables division at TotalEnergies, said in a video as a keynote speaker of the forum: "Korea is working on the development of renewable energies, including 12 gigawatts (GW) of offshore wind by 2030. It is very encouraging that the country has tremendous potential with unique set of local competencies, extensive shipbuilding know-how and country’s ambitious R&D programs, which are highly related to offshore wind power. In addition, TotalEnergies has maintained long-established partnerships with Korea’s shipbuilding and heavy industry companies in the oil and gas industry for the past three decades, and the experience will provide a great advantage in promoting offshore wind farm projects in Korea.” The 1.5-gigawatt wind farm being developed in Ulsan by GIG and TotalEnergies is expected to become one of the world’s largest floating offshore wind parks if all three phases are completed. “We plan to expand our collaboration with companies and agencies in Korea through partnerships as we have obtained the EBL of Phase I of the Ulsan floating offshore wind power project last July from the Electricity Regulatory Committee under the Ministry of Trade, Industry and Energy, the first EBL granted to a floating offshore wind project in Korea, and the development of the project is going forward,” said Choi. He added, “After obtaining the EBL, GIG and TotalEnergies are currently preparing the basic design and a collaboration system with the domestic supply chain. We expect the preparatory procedure for the commencement of Phase I, including the detailed design, will have been completed by the end of 2023 barring any factors for delay in licensing and residents’ acceptance.” Once Phase III is completed, the wind farm will be able to provide clean energy to 1.6 million households. It is also expected to reduce carbon emissions equivalent to the amount of carbon which can be cut by densely planting 30-year-old pine trees on a land 3.6 times the area of Seoul, and create a virtuous cycle in which export-oriented Korean companies can strengthen their international competitiveness based on the clean energy. GIG and TotalEnergies said that they are also striving to nurture talents and experts in the offshore wind power industry, which are key players for carbon neutrality and the transition to green energy. “Early this year, we signed a memorandum of understanding for industry-university cooperation with the Ulsan National Institute of Science and Technology (UNIST) to foster talents in the floating offshore wind industry. We also started providing lectures to graduate students and granting scholarships to outstanding students. Such efforts to discover local talents are essential for the development of the offshore wind power,” said Choi. GIG and TotalEnergies are focusing mostly on the establishment of a local supply chain for Ulsan's floating offshore wind power project. “With our floating offshore wind power project in Ulsan helping the creation of an omni-directional supply chain for materials, parts, and equipment in the region, we seek to contribute to the revitalization of the shipbuilding and offshore plant industries in Ulsan, which are the most competitive in the world, thereby making Ulsan an outpost for export of floating offshore wind power,” Choi said. “As a broad energy company active in more than 130 countries, producing oil and biofuels, natural gas and green gases, and electricity, TotalEnergies is concentrating efforts on green transition by making significant changes to achieve ‘Net Zero’ by 2050,” said Pouget. He also added “We are here to be stronger partner again for South Korea in its energy transition. We are convinced that our Korean development will also be the first stone to build the future hub for large wind farm’s EPCI (Engineering, Procurement, Construction, and Installation) not only in Korea but in the APAC region.”  Marking the third anniversary this year, the International Forum of Floating Offshore Wind Farm 2021 was planned by the Ulsan Metropolitan City and the Korean Wind Energy Industry Association to ensure that Korean manufacturers in the wind energy sector as well as the floating offshore wind power industry can share information on floating offshore wind farm policies and technologies.  "In line with the Korean government’s ‘2050 Net Zero’ initiative, Ulsan is implementing policies to promote renewable energies, and as part of the effort, aims to become a city that takes the lead in carbon neutrality by creating a floating offshore wind park,” Ulsan Mayor Song Cheol-ho said on the forum's official website. “With the floating offshore wind power project, Ulsan became the first municipality that was awarded by the Korean government as the ‘Korean New Deal of the Month’ in June of this year. It also expects to reduce 9.3 million tons of carbon emissions and create 210,000 jobs if the 6-gigawatt wind farm is constructed.”  Photo 1) Choi Woo-jin, GIG’s managing director in full charge of Korea’s offshore wind power project, delivered a speech at the International Forum of Floating Offshore Wind Farm 2021. Photo 2) Julien Pouget, Senior Vice President of the Renewables division at TotalEnergies, said in a video as a keynote speaker of the forum. 

“Establish a K-floating offshore wind farm model”   lGIG and TotalEnergies sign an MoU with the Ulsan Metropolitan City government and the local university, companies, and KWEIA to create a local supply chain and localize equipment for the floating offshore wind project. l“We will localize stages of the floating offshore wind project in Ulsan actively, contributing to job creation and the revitalization of the local economy and helping Ulsan to become a carbon-neutral city,” say GIG and TotalEnergies.   (September 7, 2021) Green Investment Group (GIG), a global leading green energy development and investment company, and TotalEnergies, a broad energy company, signed a memorandum of understanding (MOU) with the Ulsan Metropolitan City government and the city’s university, companies, and KWEIA at the Ulsan city hall on September 7 to localize a supply chain and equipment for the floating offshore wind project in Ulsan.   The signing ceremony was attended by Ulsan city mayor Song Chul-ho and representatives from institutions and companies in the city, including the Ulsan National Institute of Science and Technology, KWEIA, the Ulsan Council for Floating Offshore Wind Power Supply Chain, Hyundai Heavy Industries, Sejin Heavy Industries, and Shinhan Heavy Industries.   The participating companies and institutions pledged to forge an actively cooperative relationship in establishing a supply chain mostly consisting of Ulsan-based companies and localizing equipment while implementing the Ulsan floating offshore wind farm project.   Through the MOU, GIG and TotalEnergies will further shape up their existing business plan of localizing stages of the floating offshore wind project in Korea actively. In particular, they plan to help create a new ecosystem for the floating offshore wind industry in Korea through active partnerships with heavy industry-related companies in Ulsan’s shipbuilding and offshore plant sector, which have the world's best technology and experience. They will also contribute to the local economy and job creation by directly hiring people in Korea for the project.   “GIG and TotalEnergies recognize that the core value of the floating offshore wind project in Korea lies in revitalizing the local economy through the localization of a supply chain and equipment. We will actively cooperate with relevant companies in Ulsan to ensure that the project will become a model case for offshore wind projects and help the companies to make a strong leap forward into the global market,” said GIG (Korea managing) director Choi Woo-jin, in charge of the GIG and TotalEnergies' floating offshore wind project in Ulsan, at the signing ceremony.   Late in July, GIG and TotalEnergies obtained an electric business licence for the first phase of the Ulsan floating offshore wind farm project located 60km off the coast of Ulsan City from Electricity Regulatory Commission under the Ministry of Trade, Industry and Energy. With a maximum installed capacity of 1.5 GW developed across three phases, it’s one of the largest floating offshore wind developments in the world.   As the wind power complex is expected to produce enough electricity to power the equivalent of 1.6 million households each year, as well as reduce carbon dioxide emissions by 2.3 million tons annually, it is expected to make a big contribution to Ulsan’s great energy transition and the achievement of the ‘2050 Carbon-Neutral City Ulsan,’ the vision declared by the city earlier this year.   Meanwhile, GIG, TotalEnergies, and the Ulsan Council for Floating Offshore Wind Power Supply Chain adopted and announced a joint declaration for a memorandum of understanding with other private investment developers to mutually cooperate in establishing the Ulsan floating offshore wind farm. Photo) GIG and TotalEnergies sign an MoU with the Ulsan Metropolitan City government and the local university, companies, and KWEIA to create a local supply chain and localize equipment for the floating offshore wind project.