Shell enters JV with CoensHexicon for 1.4 GW floating offshore wind farm in South Korea

Shell Overseas Investment BV, a unit of Royal Dutch Shell Plc, has signed a joint-venture agreement with CoensHexicon Co Ltd for the development and construction of a 1.4 GW floating offshore wind farm project off the southeast coast of South Korea. 

Shell holds 80% interest in the MunmuBaram Co Ltd., the joint venture scheme, while CoensHexicon owns the remaining 20%. CoensHexicon is co-equally owned by Hexicon AB and Korean service provider Coens Co Ltd.

The offshore wind farm will occupy about 240 sq. km between 65 km and 80 km from the city of Ulsan. A feasibility study is currently underway to determine the critical offshore wind data and the final location of the project.