GIG and Total Sign Cooperative Agreement for Geomundo Offshore Wind Farm in Yeosu, South Jeolla Province
- GIG and Total are developing a 500MW
floating offshore wind project near Geomundo in South Jeolla Province.
- GIG and Total executed the agreement
to thoroughly engage with the stakeholders from the early stage of the project
development.
- GIG and Total plan to discuss with
Geomundo Villagers Committee regarding the compensation for the fisheries, after
obtaining the electricity business license (EBL).
(April
30, 2021) – Green Investment Group (GIG) and Total signed a cooperative
agreement with Geomundo Villagers Committee (“Committee”) on April 28 to
develop a 500MW floating offshore wind project near Geomundo Island off the
coast of Samsan-myeon in Yeosu City, South Jeolla Province.
GIG, a
global leading green energy development and investment company, and Total, a
broad energy company, are developing a 500MW floating offshore wind project off
the coast of Geomundo Island, Yeosu.
GIG and Total
said it executed the agreement to thoroughly engage with the Committee, which
was one of the stakeholders, from the early stage of the project development.
The Committee consists of six village heads representing six villages in the
island (about 860 households) and one chairperson of the regional development
committee of Samsan-myeon.
The
agreement signed by the two and resident delegates included details of
cooperation to promote the floating offshore wind project in a way
co-prospering with the local community. The companies and the Committee
reconfirmed commitments that the residents of Geomundo will be in favor of the
offshore wind development project and provide necessary cooperation, and GIG
and Total will have sincere discussions with the Committee on the compensation
measures, including the one for the fisheries, that are related to the project
development such as the installation of wind power generators after obtaining
the electricity business license (EBL).
Kim
Bo-hwan, Director of Geomundo Villagers Committee, said “We are expecting to
promote the offshore wind project where local residents, fishermen, and the developer
can harmoniously co-prosper through transparent and continuous communication
and cooperation.” “We also plan to discuss the general measures to revitalize
the local economy, such as creating additional income for the residents by establishing
a travel route during the development, which connects Geomundo, the wind farm,
and Baekdo Island,” he added.
GIG and Total
are promoting floating offshore wind projects with a total installed capacity
of 2.5GW, 1.0 GW of which in South Jeolla Province and 1.5GW in Ulsan. Through
its floating offshore wind projects in Korea, GIG and Total plan to revitalize
the stagnant shipbuilding and offshore plant industry of the country and
contribute to job creation by closely cooperating with shipbuilding and heavy
industry companies that possess world-class competitiveness in their fields. Photo 1) GIG and Total
signed a cooperative agreement with Geomundo Villagers Committee to develop a
500MW floating offshore wind project near Geomundo Island in Yeosu, South
Jeolla Province.Photo 2) GIG and Total
signed a cooperative agreement with Geomundo Villagers Committee to develop a
500MW floating offshore wind project near Geomundo Island in Yeosu, South
Jeolla Province.