Letter of intent (LOI) signed for 1.2 GW floating wind project in South Korea

Ulsan Metropolitan City and Ocean Winds (OW), a 50-50 joint venture of EDP Renewables and Engie have signed a letter of intent (LOI) for the 1.2 GW floating offshore wind energy project (KF Wind) in South Korea.

The floating offshore wind project known as KF Wind is a joint venture between Ocean Winds (66,7%) and Mainstream Renewable Power (33,3%). This agreement involves Ulsan Metropolitan City providing its cooperation and support to OW for the development, operation, and maintenance of the KF Wind project. The formal signing of the Letter of Intent (LOI) occurred during a visit to WindFloat Atlantic, the pioneering semi-submersible floating offshore wind farm globally. The same semisubmersible technology utilized for WindFloat Atlantic and created by Principle Power will also be employed in the KF Wind project, marking its path to becoming the world's first commercial-scale floating project.