• 2019 October 21 12:12

    Aker Solutions and EDP Renewables to develop floating wind farm in Ulsan, South Korea

    WindPower Korea, EDP Renewables and Aker Solutions have formed a consortium with the ambition to develop an initial 500 megawatt (MW) floating wind farm off the coast of Ulsan Metropolitan City in South Korea.

    The consortium was formed as EDP Renewables, one of the top wind energy producers globally, and Aker Solutions, an engineering and technology company with a 40-year track record of realizing offshore projects, have invested in the development company Korea Floating Wind Power (“KFWind”), joining founding shareholder WindPower Korea. Principle Power, which had a role in originating the KFWind project portfolio, will supply its proven WindFloat® foundation technology for the project.

    The new consortium is committed to support the ambitious renewable energy plans of the South Korean Government, which call for 13 gigawatt (GW) of offshore wind to be installed by 2030 and set a target of at least 30 percent renewable energy by 2040. KFWind signed a Memorandum of Understanding with the City of Ulsan in January 2019 to cooperate on the development of floating wind projects and support the industrial development of the Ulsan region to serve as a manufacturing hub for domestic and export offshore wind markets.

    The Ulsan area is well-suited for commercializing floating wind, due to the combination of industry-leading shipyards, maritime expertise and port facilities in the region. The consortium foresees that a potential project will contribute with significant positive economic and environmental benefits to the local community. The wind farm will use the cutting-edge WindFloat technology, which enables the installation of floating platforms in deep waters that were previously inaccessible, and where the best wind resources in Korea can be harnessed. The consortium has been committed from the beginning to working hand-in-hand with the local fisheries associations and stakeholders to ensure that projects are well-sited and developed responsibly.

    The consortium has the backing of established industry leaders in renewable energy production and offshore project development, combined with the local market and industry expertise provided by WindPower Korea.

    EDP Renewables, majority-owned by the Portuguese energy company EDP, is one of the top wind energy producers with operations in 14 countries. The windfarm will be included with the joint venture announced between EDP Renewables and Engie, that will aim to become one of the five largest offshore wind energy operators globally, created to harness offshore wind energy opportunities around the world. The EDP Renewables/Engie JV currently has 1.5 GW of capacity under construction and a further 4 GW in the pipeline globally.

    The firm has a solid commitment to the Windplus consortium, which is set to deploy the three largest offshore wind turbines on a floating platform to date at the 25 MW WindFloat Atlantic project currently under construction in Portugal. Therefore, EDP Renewables has a unique expertise in floating offshore energy generation.

    Aker Solutions is part-owned by Aker ASA, an industrial investment company with ownership in several energy and maritime companies. Aker Solutions provides offshore technology and engineering solutions globally, and has delivered more than 60 percent of the world's semisubmersible floating structures.

    About the Transaction

    EDP Renewables and Aker Solutions acquired a significant stake in KFWind from WindPower Korea, a project developer which remains a minority shareholder, and from Principle Power, a global leader in floating wind technology, which will exit the shareholding to focus on growing its core technology and services business in the Korean market. Green Giraffe, a specialist advisory firm focused on the renewable energy sector, advised KFWind. The parties agreed to not disclose the value of the transactions.




2019 November 21

18:01 Diana Shipping announces direct continuation of time charter contract for m/v Polymnia with Cargill
17:50 Freeport of Riga Authority and province of Corrientes sign Protocol of Agreement to facilitate growth of Riga and Corrientes ports
17:23 Training ship Perekop of RF Navy’s Baltic Fleet takes course from Sri Lanka to Sevastopol
17:00 Two Sendo Liners to be entering the port of Amsterdam emission-free by 2020
16:45 Severnaya Verf lays down fourth processing trawler of Project 170701 for Norebo Group
16:28 Star Bulk reports Q3 net profit of $5.8 million
16:00 MacGregor secures complete piggy-back hatch cover order from Fincantieri Bay Shipbuilding
15:46 Danfoss Editron appoints Erno Tenhunen as new Marine Director
15:31 ECOsubsea gains further foothold in major European ports to become benchmark for sustainable effective hull cleaning
15:17 Baltic Sea Ports Administration reports readiness of 6 line and 7 port icebreakers for winter navigation season
15:00 Chart Industries joins SEA\LNG coalition
14:38 Orolia Maritime unveils new PLB with Return Link System for 2020
14:21 Amsterdam, the Netherlands, to host 8th edition of ACI’s Ship Recycling Congress on 29-30 January 2020
14:09 Nexans to provide the 225 kV power export cables for one of the biggest offshore wind projects in France
13:50 Bunker market in the Far East ports of Russia sees mixed price movements (graph)
13:28 Singapore’s First Women in Shipping Summit to be held on 20-21 April 2020
13:27 Oldendorff Carriers signs agreement with MIT on ship design
13:09 ZIM posts Q3 2019 results
12:46 5th Singapore Maritime Technology Conference to be held on 21-23 April 2020
12:35 Proman Stena Bulk and GSI sign deal for new methanol tankers
12:09 Port of Zeebrugge and Yugo sign MOU for cooperation in Lingang Overseas Modern Industrial Park
11:57 Nobel Brothers Shipyard launches small refrigerating trawler of Project Т30В, Vympel
11:09 MOL to build Japan's 1st LNG-fueled ferries : Sunflower Kurenai and Sunflower Murasaki
10:43 DNG Energy to commence LNG bunkering operations from Algoa Bay next year
10:09 Fincantieri and Ponant sign an MOA for the construction of 2 new-generation cruise ships
09:51 Container throughput of port Hong Kong (China) down 6.2% to 15.27 million TEUs in Jan-Oct’2019
09:39 MABUX: Bunker market this morning, Nov 21
09:33 Brent Crude futures price is down 0.32% to $62.2, Light Sweet Crude – down 0.25% to $56.87
09:17 Baltic Dry Index is down to 1,260 points
08:29 Port of Hamburg cargo throughput grows 3.2 percent to 104 million tons in first three quarters of 2019

2019 November 20

18:10 FESCO provided transportation of nuclear submarines’ blocks and tanker from Kamchatka Territory to decommissioning site in Primorye
17:48 Cruise ship Mustay Karim returns from successful sea trials
17:06 ECOsubsea gets permission to start offering hull cleaning services to vessels at all Dutch Ports
16:56 Tallinn Shipyard wins prestigious 2019 Safety4sea Europort Awards
16:19 Wärtsilä solutions chosen to upgrade efficiency and environmental performance of Norwegian fishing vessel
16:03 Oboronlogistics completed the delivery of inert materials and special equipment to the Novaya Zemlya
15:00 ESPO: TEN-T policy review must bring maritime links on equal footing with land links
14:09 RF Govt Transport Commission approved inclusion of 57 projects into comprehensive plan for upgrading and expanding core infrastructure
13:35 Ecosystem-based management and maritime spatial planning are furthered at HELCOM-VASAB meeting in St Petersburg
12:57 RS takes part in Transport of Russia 2019
12:02 The world’s largest wind turbine tested on Maasvlakte
11:44 WMU signs MoU with International Maritime Academy, Lebanon
11:23 Tariffs for LNG services provided by KN approved for 2020
11:02 Bureau Veritas certifies Ørsted's Borkum Riffgrund 2 offshore wind farm
10:28 Hydraulic engineering structures of Volga-Don Canal underwent reconstruction
10:25 MABUX: Bunker market this morning, Nov 20
10:05 Bunker prices are stable at the port of Saint-Petersburg, Russia (graph)
10:02 Yang Ming to launch new Southeast Asia Services
09:46 Brent Crude futures price is down 0.11% to $60.84, Light Sweet Crude – up 0.04% to $55.37
09:41 Foreship launches Hamburg business to grow in Germany
09:29 Baltic Dry Index is down to 1,304 points
09:14 CMA CGM reviewes Low Sulphur Surcharge for RoRo Med Lines

2019 November 19

18:03 Port of Piraeus throughput reaches 5 million TEU this year
17:50 BPO joins the “More EU budget for transport” coalition
17:22 Throughput of Russia’s seaports expected to grow by 3% to 850 million tonnes in 2019
17:03 Expro awarded contract extension with INPEX, offshore Australia
16:45 Gasum expands their maritime fuel supply by new Swedegas’ facility in the port of Gothenburg
16:24 IMO helps train future leaders in maritime policy
16:03 CSV Bourbon Oceanteam 101 extends charter contract with client for works in Angola
15:03 MSC appoints Soren Toft as CEO for container shipping & logistics