lGIG and Total have signed a memorandum of understanding with SK E&C in an effort to seek localization during the development of the floating offshore wind projects in Korea with a total of 2.3GW capacity. lThe deal is expected to make sure that the project is promoted with SK E&C’s expertise in designing, procuring, and constructing of offshore floaters and to contribute to job creation and the revitalization of the local economy.lThey plan to continue enhancing cooperation with Korean companies in shipbuilding, heavy industries, and other sectors. (November 18, 2020) Green Investment Group (GIG) and Total have signed a memorandum of understanding (MoU) with SK Engineering & Construction (SK E&C) and agreed to cooperate for the successful development of floating offshore wind projects. GIG, a global leading green energy development and investment company, and Total, a broad energy company, already forged a partnership last July to jointly develop an initial portfolio of floating offshore wind projects in Korea with a total capacity of 2.3GW based on their respective expertise and experience. SK E&C, a subsidiary of SK Group and the first company in Korea that declared its joining of the RE100, is concentrating its competence on renewable energy development such as fuel cells, solar power, and offshore wind, in accordance with the group’s renewable energy policy. Through this agreement in particular, SK E&C plans to participate in the floating offshore wind projects by utilizing its experience in engineering, procuring, and constructing ocean facilities and ports, including marine floaters, both at home and abroad. GIG is a global investor and developer of green infrastructure assets with a mission to grow and spread the green economy worldwide. Having the world’s first Green Investment Bank (GIB), which was established by the British government in 2021, as its predecessor organization, GIG has contributed greatly to the U.K.'s green growth with investments in almost 50% of the country’s total offshore wind construction and operation capacity. GIG also has a global development pipeline of over 25GW, including 4.5GW of offshore wind development capacity across Asia. Total is a broad energy company and one of the world’s five energy majors that produces and sells fuels, natural gas, and electricity. Together with the community, Total is making active investments in its renewable energy portfolio to become one of the leading players in the renewable energy sector and achieve net zero by 2025. The company now aims to generate 35GW of electricity from renewable energy by 2025. Through the floating offshore wind projects in Korea, GIG and Total plan to revive Korea's stagnant shipbuilding and offshore plant industries and contribute to job creation, while closely cooperating with Korean shipyards, heavy industry businesses, and related small and medium-sized enterprises that have a competitive edge globally. SK E&C has been closely engaged in talks with GIG and Total to promote the floating offshore wind projects in Korea. It plans to lay a foundation for shared and sustainable growth by establishing a 'One Team Operation' system that enables the company to work as one team with its domestic partners in all processes from early business development and equity investment, engineering, planning, fabrication, and construction (EPFC) to operation and maintenance (O&M).  Meanwhile, GIG and Total have been seeking various ways to enhance mutual cooperation for the successful implementation of the floating offshore wind projects with the Korean government and relevant Korean companies such as Ulsan City and Hyundai Heavy Industries.  Photo) GIG and Total have signed an MoU with SK E&C for floating offshore wind projects. From the second from left: Guillaume Le Maréchal, Deputy Project Director of Total Offshore Wind Korea, Lee Hyung-won, eco-energy division head of SK E&C, and Choi Woo-jin, Managing Director at GIG. 

lGIG and Total announce the project implementation status at the International Forum of Ulsan Floating Offshore Wind Farm (FOWF) 2020.lThey seek to establish supply chains for materials, parts and equipment by utilizing shipbuilding and offshore plant infrastructure in Ulsan.lThey plan to create more than 20,000 jobs over 30 years of constructing, maintaining, and operating the 1.5-gigawatt floating offshore wind farm.lThey actively strive to come up with measures to share growth with local fishermen.   (October 27, 2020) – Green Investment Group (GIG), a global leading green energy development and investment company, and Total, a broad energy company, presented the implementation status of their 1.5-gigawatt Ulsan floating offshore wind project at the International Forum of Ulsan Floating Offshore Wind Farm (FOWF) 2020 held at Lotte Hotel Ulsan on October 26.   “The core policy of the Ulsan floating offshore wind project is to revitalize the local economy and create jobs in the region through localization,” Choi Woo-jin, Managing Director of GIG, stressed. “Since floating offshore wind farms are closely related to the shipbuilding and offshore plant industries, we will build supply chains for materials, parts, and equipment and therefore form a floating offshore wind farm cluster in Ulsan by utilizing the shipbuilding and offshore plant infrastructure already established in the region.”    The floating offshore wind project is also expected to create a lot of jobs. “The construction, maintenance and operation of floating offshore wind farms require numerous experts in marine, wind power, electricity, and finance for three decades,” said Choi. "The 1.5-gigawatt offshore wind project promoted by GIG and Total is estimated to create a total of 21,837 jobs.”   GIG and Total are carrying out the three-phased project to build a floating offshore wind farm with a total capacity of more than 1.5 gigawatts located 60 kilometers away from Ulsan Port (the former Donghaejeong sea dumping site). According to the data presented by GIG, the company conducted a preliminary feasibility study for the project and selected the project area in 2018 and signed a memorandum of understanding (MoU) with Ulsan Metropolitan City for the project in January 2019. It also signed a co-prosperity agreement with local fishermen in April 2020 and installed three floating remote-sensing wind measuring equipment (LiDAR) for a total of three months from April to June to start collecting wind-related data, targeting for the commencement of construction of the first 500-MW phase by the end of 2023.    GIG and Total also announced that it is making active efforts to come up with ways to ensure that the floating offshore wind farm and fishermen can coexist while promoting the project. Choi emphasized the importance of fishermen, saying, “Fishermen are not the objects of the project, but the ‘partners of the project’.” The two companies added that they are considering programs where they can work with the fishermen in various areas, such as the fishermen’s participation in the project, hiring preference for their children, compensation for fishing losses, development funds, support for changing fishing methods, and establishment of fish farms.   Meanwhile, GIG and Total signed an agreement last September to jointly develop an early-stage portfolio for floating offshore wind projects with a total capacity of 2.3 gigawatts in Korea, including the 1.5-gigawatt in Ulsan.   “We have long been working with Korean shipyards and are truly delighted to be able to use the relationship to participate in the offshore wind projects in Korea,” said Julien Pouget, Senior Vice President Renewables at Total, in a video message at the forum. “Total has an ambitious target of adding 10-gigawatt renewables capacity every year by 2030 and operating a total of 35-gigawatt renewable energy assets by 2025. We believe we can support the development of the offshore wind field based on the expertise that we have accumulated offshore in the oil and gas sectors.”   The FOWF 2020 is a forum designed by Ulsan Metropolitan City and the Korea Wind Energy Industry Association (KWEIA) to share the policies and technical information on the floating offshore wind industry. "Ulsan aims to respond to the national energy policy and contribute to regional job creation by constructing floating offshore wind farms, in line with the 'Korean Green New Deal' and the 'Renewable Energy 3020 Implementation Plan' announced by the government in July this year.” said Ulsan Mayor Song Cheol-ho through the forum's official website. “We have prepared the forum to provide private investors who develop offshore wind farms and companies wishing to participate in the development projects with an opportunity to establish a business-to-business (B2B) network.” The forum will be held from October 26 to 28 at Crystal Ballroom on the second floor of Lotte Hotel Ulsan. Photo 1) GIG and Total, presented the implementation status of their 1.5-gigawatt Ulsan floating offshore wind project at FOWF 2020 held at Lotte Hotel Ulsan on October 26.Photo 2) GIG and Total, presented the implementation status of their 1.5-gigawatt Ulsan floating offshore wind project at FOWF 2020 held at Lotte Hotel Ulsan on October 26.Photo 3) GIG and Total, presented the implementation status of their 1.5-gigawatt Ulsan floating offshore wind project at FOWF 2020 held at Lotte Hotel Ulsan on October 26. 

- GIG and Total to develop a portfolio of floating offshore wind projects in Korea.  - They plan to jointly develop an initial portfolio of five projects, totaling 2.3GW of capacity.- The portfolio will support the delivery of the Korean Government’s Green New Deal plan and target to deliver 12 GW of offshore wind by 2030. (September 1, 2020) – Green Investment Group (GIG), a global leading green energy development and investment company, signed a series of agreements to co-develop an initial 2.3 GW portfolio of floating offshore wind projects in Korea. The portfolio consists of five projects - three in Ulsan totaling 1.5 GW and two in South Jeolla Province totaling 800 MW.  Subject to the completion of regulatory approvals and satisfaction of other conditions precedent, the partners aim to start co-development activities in the autumn of 2020. GIG has already commenced a comprehensive wind data collection campaign to support the portfolio, and the first 500 MW phase of the Ulsan project is targeting commencement of construction by the end of 2023.  GIG is a leading global investor and developer of green infrastructure assets with a mission to accelerate the green transition. To date, GIG has supported 16 offshore wind projects representing almost 5.5 GW of capacity in construction and operations. GIG also has a global development pipeline of over 25 GW, including 4.5 GW of offshore wind development capacity across Asia.  GIG played a key role in the development and delivery of Taiwan’s first commercial scale offshore wind farm, Formosa 1, and is now using that expertise to deliver the Formosa 2 and 3 projects. The Ulsan projects in Korea were the first floating offshore wind developments in GIG’s global pipeline, and demonstrate GIG’s commitment to the growth of next generation technologies and frontier markets.  Total is a broad energy company and has been active in South Korea for more than 30 years. With 5 GW of operational renewable energy capacity worldwide, Total is in a leading position among the energy majors in relation to the energy transition. The group has strong ambitions for further growth in low carbon energies and targets the acquisition of 25 GW of renewable generation capacity by 2025.  GIG and Total’s floating offshore wind portfolio will play a significant role in the delivery of South Korea’s ambitious renewable energy targets. To reduce the country’s heavy reliance on nuclear and coal imports, the government’s RE3020 plan promotes an aggressive increase in its green energy capacity, with a particular focus on offshore wind and associated job creation. The plan targets the delivery of 12 GW of offshore wind capacity by 2030.  The partnership will also focus on maximizing Korean content within the supply chain, in line with the government’s ‘New Deal’ plan, which targets the creation of 1.9 million new jobs through green energy and other new technologies. GIG has signed an MoU with Ulsan City and 18 organizations including local manufacturers HESI and Unison, Korea East-West Power, KEPCO-ENC, and a number of R&D organizations including Ulsan Techno Park and Ulsan University. The MoU commits the parties to cooperation on activities that will promote floating offshore wind in Ulsan, develop local technologies and create new jobs.  “Thanks in large part to the country’s world-class shipbuilding and marine plant infrastructure, GIG and Total see significant opportunities for floating offshore wind in Korea. We are committed to working with Korean companies and the local workforce as much as possible in order to support the Korean government's Green New Deal plan, revitalize the economy and support jobs through Korea’s green transition,” GIG Global Head Mark Dooley said.  “South Korea benefits from a unique set of competencies and assets to become one of the leading players in the floating offshore wind sector,” said Julien Pouget, Senior Vice-President Renewables at Total. “Total and GIG's combined expertise and resources will contribute to the success of this strategy and help curb down the country's carbon emissions, in line with our net zero ambition.” Photo 1) The 714MW East Anglia ONE, of which development and operation GIG participated in. The offshore wind farm located 43 kilometers off the coast of Suffolk, U.K. has 102 turbines that generate electricity sufficient enough to supply to 630,000 households. Photo 2) The 714MW East Anglia ONE, of which development and operation GIG participated in. The offshore wind farm located 43 kilometers off the coast of Suffolk, U.K. has 102 turbines that generate electricity sufficient enough to supply to 630,000 households.Photo 3) GIG played a key role in the development of Formosa 1, Taiwan's first commercial offshore wind farm.  

- GIG donated gift boxes containing stationery for children at the Ulsan Nam-gu Community Welfare Center in partnership with the ChildFund Korea.- GIG will continuously provide support for children and local community, following improvement project of children’s classroom in February.     (May 6, 2020, Ulsan) Green Investment Group (GIG), a global leading green energy development and investment company, donated gift boxes containing stationery to the Ulsan Nam-gu Community Welfare Center in partnership with the ChildFund Korea, celebrating Children’s Day on May 5. This is second time since the company has provided support to improve children’s classrooms at the welfare center in February.    GIG Korea employees visited the Ulsan Nam-gu Community Welfare Center with staffs at the ChildFund Korea on April 28 and handed out wrapped gift boxes containing stationery and school suppliers to underprivileged children at the center suffering from the COVID 19 impact. The Ulsan Nam-gu Community Welfare Center provides comprehensive social welfare services – protection education, culture and emotional support – for children and adolescents under the age of 18 who are in need of care after school in the region.    “I’m very grateful to GIG Korea employees and ChildFund Korea staffs for preparing gifts filled with love and I was impressed by those wrapping gift packages for disadvantaged children amid the worsening COVID-19 pandemic,” said Oh Se-geol, Director of the Ulsan Nam-gu Community Welfare Center.    “I'm glad the company was able to contribute to our neighbors as part of local community, hoping that children would overcome the difficulties from COVID-19 pandemic without losing hope and smile. GIG will be dedicated to supporting local communities by implementing various programs to help local residents and communities,” said managing director of GIG Korea Choi Woo-jin, in charge of the GIG's floating offshore wind project in Ulsan.   GIG is currently promoting a 1.5 GW floating offshore wind project located off the coast of Ulsan Korea.Photo 1) GIG Korea donated gift boxes containing stationery to the Ulsan Nam-gu Community Welfare Center in partnership with the ChildFund Korea, celebrating Children’s Day on May 5. Photo 2) GIG Korea donated gift boxes containing stationery to the Ulsan Nam-gu Community Welfare Center in partnership with the ChildFund Korea, celebrating Children’s Day on May 5.Photo 3) GIG Korea donated gift boxes containing stationery to the Ulsan Nam-gu Community Welfare Center in partnership with the ChildFund Korea, celebrating Children’s Day on May 5. Employees at GIG Korea and ChildFund Korea were wrapping gift boxes for children in the photo provided by GIG Korea.  

 -       To create a stable nurturing and development environment by improving learning environment of after-school programs for the children in low-income families-       To motivate the children and offer them enhanced learning opportunities through the improvement of educational facilities in functionally obsolete condition, including heating system, wallpaper, and window frames   (February 12, 2020, Ulsan) Green Investment Group (GIG), a global leading green energy development and investment company, announced that it supported the improvement project of learning environment of the Ulsan Nam-gu Community Welfare Center, in partnership with the ChildFund Korea.   The Ulsan Nam-gu Community Welfare Center has been running the after-school class to offer educational programs on various subjects, at low cost or without charge, to approximately one hundred children from low-income families who have a desire to learn but find it hard to have the opportunity due to financial difficulties. GIG Korea employees raised more than KRW 13 million for charity and donated it to the welfare center to improve the conditions of the facilities in piano and art classrooms that could hamper learning environment, including the old wallpaper, windows, and heating system, thereby offering the children enhanced educational opportunities as well as helping them gain physical and emotional stability.   Oh Se-geol, Director of the Ulsan Nam-gu Community Welfare Center, said “We provide after-school programs to the children in low-income families, the reality is that educational environment is poor with obsolete facilities due to limited resources. Support from private companies is of great help for the children to receive education in a stable environment and result in advanced academic accomplishments.”   Choi Woo-jin, Director of GIG Korea promoting the Ulsan floating offshore wind development, said “GIG’s support for the environment improvement project is meaningful not only to the children’s education but to the protection of their rights to be taken care of in a safe and clean environment even during after-school hours. GIG will continue to explore and execute various support measures to make a constant contribution as a member of the local community.”   GIG Korea is promoting the development of the country’s first floating offshore wind farm with an installed capacity of 1.5GW off the coast of Ulsan City. Photo 1) GIG supports improvement project of learning environment for children in low-income families at the Ulsan Nam-gu Community Welfare Center. Director Oh Se-geol of the Ulsan Nam-gu Community Welfare Center on the left, Director Choi Woo-jin of GIG on the right.Photo 2) GIG supports improvement project of learning environment for children in low-income families at the Ulsan Nam-gu Community Welfare Center.