Hexicon buys minority stake in 1,300 MW floating offshore wind project in Ulsan

CoensHexicon, a joint venture between Hexicon and COENS & Co, has completed the acquisition of a 20% stake in the 1,300 MW MunmuBaram floating offshore wind farm in South Korea from Shell Overseas Investments B.V. which holds the remaining 80% in the project. 

The MunmuBaram project off the country's south-eastern coast will be one of the world's largest projected floating wind farms once commissioned. In March 2022, the developers secured additional two electricity business licenses for the construction of the wind farm from the Ministry of Trade, Industry, and Energy of South Korea.