KNOC to Build Floating Wind Power Plant in East Sea

Korea National Oil Corp. (KNOC) is pushing to build a floating wind power business.

KNOC signed a cooperation agreement with Hyundai Heavy Industries on Sept. 8 to build a floating wind power generation plant at Donghae Gas Field 1 in the East Sea. The gas field is located 58 kilometers southeast of Ulsan. It will stop gas production in 2022.

The project aims to commercialize a floating offshore wind power generation model that still remains in the R&D stage in Korea. If successfully implemented, it will open the era of offshore wind power generation in Korea.

KNOC is promoting a 200 MW floating wind power plant in the East Sea gas field by partnering with Korea East·West Power Co. and Norwegian state-run oil company Equinor.

Under the agreement, KNOC and Hyundai Heavy Industries will strengthen cooperation in floating offshore wind power generation projects. KNOC will take the lead in carrying out offshore wind power projects based on its experience of running offshore plants. Based on the world's best shipbuilding and offshore technology, Hyundai Heavy Industries will check the design, manufacture and installation of floating offshore structures.

KNOC plans to accelerate the project by signing business agreements with POSCO, Doosan Heavy Industries & Construction and LS Cable & System by the end of September. POSCO develops technology for supplying high-performance steel materials for offshore structures and improving their economic efficiency. Doosan Heavy Industries and Construction will manufacture offshore wind turbines and LS Cable submarine cables.