POSCO E&C and Norwegian Firm Join Forces for Offshore Wind Farm Project


SEOUL, Aug. 24 (Yonhap) — South Korean builder POSCO E&C Co. announced on Thursday that it has inked a memorandum of understanding (MOU) with Norway’s state energy firm Equinor to collaborate on a massive floating wind farm project off the southeastern port of Ulsan.

The agreement calls for cooperation in the construction and development of the proposed wind farm and other local offshore wind farm projects. In 2019, the Ulsan authorities signed an MOU with Equinor to build a 750-megawatt floating offshore wind farm in an area approximately 70 kilometers away from the port. When completed, it will be the world’s largest, providing enough electricity for all households in the industrial city.

POSCO E&C, a branch of South Korea’s top steelmaker POSCO Holdings Inc., has been carrying out the conceptual design of an on-land transmission line since January in preparation for the project. A senior company official said the MOU will be a turning point for POSCO E&C’s offshore wind farm business and the company will do its best to ensure its success.

In April, POSCO E&C also signed an MOU on technological cooperation with DNV, a Norwegian ship quality assurance and risk management company.


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