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.