Total and Green Investment Group set to build up capacity that is 2.3GW Korea

1 September 2020 by Andrew McCorkell

GIG and Total agree deal to build up a portfolio of drifting overseas wind in Korea with a preliminary policy for five jobs

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A deal finalized by the Macquarie-owned Green Investment Group (GIG) and oil that is french gasoline giant complete has committed both businesses to five projects — three in Ulsan totalling 1.5GW and two in South Jeolla Province for 800MW.

Developing work will start in autumn of 2020 as soon as regulatory licenses are guaranteed.

The contract comes included in the Korean government’s New contract plan and a target of 12GW of offshore wind by 2030.

Mark Dooley, worldwide mind of Macquarie’s GIG stated: ” Many Many Thanks in big component to the country’s world-class shipbuilding and marine plant infrastructure, GIG and Total see significant possibilities for drifting overseas wind in Korea.”

CIG has launched a wind information collection campaign, while construction for the very first 500MW period of this Ulsan task should begin prior to the end of 2023.

As with investor and developer of green infrastructure, GIG has supported 16 wind that is offshore representing nearly 5.5GW of capability in construction and operations.

It features a international development pipeline of greater than 25GW, including 4.5GW of offshore wind development capability across Asia.

The firm had been also type in the introduction of Taiwan’s Formosa 1 and it is heavily tangled up in delivering the Formosa 2 and 3 jobs.

GIG recently finalized a memorandum of understanding with Ulsan City ,18 organisations including local manufacturers Hesi and Unison, Korea East-West energy, Kepco-ENC, along with R&D organisations such as for instance Ulsan Techno Park and Ulsan University.

The MoU commits to advertising floating wind that is offshore Ulsan, the growth of neighborhood technology and new jobs.

Complete is active in Southern Korea for over three decades and from now on has 5GW of operational energy capacity worldwide that is renewable.

Julien Pouget, senior vice-president for renewables at complete, stated: “South Korea advantages of a unique pair of competencies and assets to be one of several leading players within the floating overseas wind sector.”

The gas and oil major has targeted the purchase of 25GW of renewable generation ability by 2025.

In 2019, Macquaries’ Green Investment Group (GIG) revealed a 1.4GW Korean offshore project and deployed a drifting lidar during the web site final summer time.

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