The joint venture spent the past year collecting data from the floating offshore wind farm project site. In July, a geological survey was conducted and a geotechnical survey is now underway. An application for an Electricity Business License will be submitted this month.
“We are excited to be part of MunmuBaram and to have joined forces with Shell on this exciting project,” CoensHexicon CEO Steve Seo said in a statement. “In addition to the current wind farm, CoensHexicon is also developing new areas in South Korea and looks forward to continue supporting the country's energy transition where floating wind energy may form a significant share of the renewable energy mix.”
The project works towards South Korea's goal of increasing domestic renewable energy generation to 20% by 2030 and to become carbon neutral by 2050.