LYSAKER, Norway – Korea Floating Wind (KFW) has obtained its second Electric Business License (EBL) from South Korea’s Ministry of Trade, Industry and Energy, for a capacity of 450 MW.
KFW is a joint venture between Ocean Winds (66.7%) and Aker Offshore Wind (33.3%).
The EBL is a mandatory requirement for the generation and supply of electricity in South Korea and follows the 870 MW EBL that KFW obtained at the end of January.
Its planned floating wind project now has a 1.32-GW EBL capacity, sufficient to power over 1.3 million households.
“Together with our partners, we are on track to build in Ulsan the world’s first industrial-scale floating offshore wind farms by 2028,” said Philippe Kavafyan, CEO of Aker Offshore Wind.
KFW has started most of the field studies and continues negotiations to secure the remaining permits. It expects these to come through during 2023, with the goal of reaching financial closure on the project in 2024.