Total and Green Investment Group set to produce 2.3GW capability in Korea

Total and Green Investment Group set to produce 2.3GW capability in Korea

1 September 2020 by Andrew McCorkell

GIG and Total agree deal to build up a profile of drifting overseas wind in Korea with a short policy for five tasks

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A deal finalized by the Macquarie-owned Green Investment Group (GIG) and oil that is french fuel giant complete has committed both businesses to five projects — three in Ulsan totalling 1.5GW and two in South Jeolla Province for 800MW.

Developing work will start up in autumn of 2020 permits that are once regulatory guaranteed.

The contract comes included in the Korean government’s New Deal plan and a target of 12GW of offshore wind by 2030.

Mark Dooley, worldwide mind of Macquarie’s GIG stated: ” Many Many Thanks in big component towards the country’s world-class shipbuilding and marine plant infrastructure, GIG and Total see significant possibilities for drifting overseas wind in Korea.”

CIG has recently launched a wind information collection campaign, while construction regarding the very first 500MW period for the Ulsan task should begin ahead of the end of 2023.

Such as investor and developer of green infrastructure, GIG has supported 16 wind that is offshore representing nearly 5.5GW of capability in construction and operations.

Additionally possesses development that is global of greater than 25GW, including 4.5GW of offshore wind development capability across Asia.

The company ended up being additionally type in the introduction of Taiwan’s Formosa 1 and it is greatly taking part in delivering the Formosa 2 and 3 tasks.

GIG recently signed a memorandum of understanding with Ulsan City ,18 organisations including manufacturers that are local and Unison, Korea East-West energy, Kepco-ENC, along with R&D organisations such as for instance Ulsan Techno Park and Ulsan University.

The MoU commits to advertising floating wind that is offshore Ulsan, the growth of regional technology and brand new jobs.

Complete is active in Southern Korea for over three decades and from now on has 5GW of functional renewable energy ability globally.

Julien Pouget, senior vice-president for renewables at complete, stated: “South Korea advantages of a distinctive group of competencies and assets in order to become among the leading players when you look at the floating overseas wind sector.”

The gas and oil major has targeted the purchase of 25GW of renewable generation capability by 2025.

In 2019, Macquaries’ Green Investment Group (GIG) revealed a 1.4GW Korean overseas project and deployed a floating lidar during the web web site summer that is last.

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