MunmuBaram Secures Electricity License for Offshore Wind in South Korea

Source: www.gulfoilandgas.com 11/29/2021, Location: Asia

MunmuBaram Co., Ltd., a joint venture (JV) between Shell (80%) and CoensHexicon (20%), announced that it has secured an Electricity Business License (EBL) for its floating offshore wind project off the coast of Ulsan, South Korea. The EBL from the Ministry of Trade, Industry and Energy grants the JV exclusive development rights to progress 420-megawatt (MW) of wind energy, a third of the total planned output of 1.3-gigawatt (GW) of the project. This is the first time that Shell and CoensHexicon have received exclusive development rights for offshore wind projects in Asia.

“Acquiring the Electricity Business License is a key enabler for the MunmuBaram floating offshore wind project which could, if realized, provide renewable power to over 1 million Korean households," said YoungKyu Ju, the Project Director of MunmuBaram. "MunmuBaram will continue to communicate and cooperate with various stakeholders, including the local fishermen community and relevant organizations in Ulsan."

Since 2019, MunmuBaram has been carrying out the groundworks such as the wind data measurement campaigns. In September, MunmuBaram was the first floating offshore wind developer in South Korea to successfully complete a geotechnical and geophysical surveys.

Following the award of the EBL, MunmuBaram will continue to progress the floating offshore wind project development through Environmental Impact Assessment (EIA), marine traffic survey, cultural heritage inspection survey and other activities. Subject to future investment decisions, MunmuBaram project will be developed in phase(s) and once constructed, expected to generate up to 4.2 terawatt-hour (TWh) of clean electricity every year.

Notes to editors
MunmuBaram Co., Ltd.: ‘MunmuBaram’ is a joint venture between Shell and CoensHexicon with the aim to develop and operate, subject to final investment decision, up to a 1.3 GW floating offshore wind project, located offshore South-East Korea, between 65 and 80 km from the city of Ulsan, South Korea. Stakes in the ‘MunmuBaram’ JV are held by Shell (80%) and CoensHexicon (20%).


Italy >>  5/20/2022 - Tibula Energia is the name of the latest floating offshore wind farm project off the northeastern coast of Sardinia, proposed by Falck Renewables and ...
Germany >>  5/16/2022 - Completing an extensive contract with Ørsted on the world’s largest wind farm, Hornsea Two, CBED will move on to a new project on the DanTysk and Sand...

Germany >>  5/16/2022 - - RWE’s innovative ecological concepts deliver net positive impact on biodiversity during construction and operation of offshore site VI
- Perfe...

United States >>  5/16/2022 - Upon the closing of the acquisition, Ørsted will add 121 MW operational wind to its portfolio in the US MISO market, which covers 15 states in the Mid...

Denmark >>  5/13/2022 - Ørsted and TotalEnergies have joined forces to jointly submit bids for the two Dutch offshore wind tenders “Holland Coast West” with the aim to achiev...
United States >>  5/13/2022 - TotalEnergies has been named a winner by the Bureau of Ocean Energy Management of maritime lease area OCS-A 0545 in the United States, as part of the ...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.