Principle Power set for gigascale South Korea floating wind outing with CIP

Principle Power is in line to equip a gigawatt-scale project off South Korea in another boost to the floating wind pioneer's ambitions in the fast-emerging market and globally.

A subsidiary of Copenhagen Infrastructure Partners has awarded a key front-end engineering and design (FEED) contract to get development of the Haewoori 2 and 3 floating offshore wind arrays underway off the coast of Ulsan, each with capacity for 500MW.

The FEED contract, which covers floating foundations, was awarded to offshore engineering and manufacturing giant Aker Solutions, with Principle Power described as subcontractor.

As part of the scope, Aker Solutions will coordinate the design and delivery of the floating foundation structures and perform front-end engineering design of the inter-array cable, marshaling port, wind turbine integration, plus transport and installation, according to a joint statement by the two contractors.

Principle Power will design the floating platforms and mooring system semi-submersible WindFloat technology that has been deployed on projects starting with WindFloat Atlantic in Portugal and Kincardine in Scotland.

Principle Power is already set to equip the 1.3GW Korea Floating Wind (KFWind) project, also off the coast of Ulsan City. Ocean Winds and Aker Offshore Wind bought a majority interest in this project in 2019.

The company's WindFloat design also forms the basis of the Les Eoliennes Flottantes du Golfe de Lion (EFGL) project in France, where three 10MW offshore wind turbines are expected to achieve first power in the French Mediterranean later this year.

For the new projects. Aker Solutions will also work with Haewoori Offshore Wind to engage with the Korean supply chain to maximise local engagement in the projects.

"After a robust selection process, we are happy to collaborate with Aker Solutions and Principle Power for the FEED for the delivery of floating structures. The combined technical expertise and know-how of Aker Solutions and Principle Power will provide us with the capabilities to deliver one of the first industrial scale floating wind projects in the world, commented Jonathan Spink, CEO of Haewoori Offshore Wind.

"Together, we will continue to engage the Korean supply chain to bring the knowledge from real deployment experience, thereby helping Korea to accelerate its floating offshore wind industry, while reducing cost and risk for these first projects."

Aker Solutions — a giant in the offshore oil and gas sector — has been building up its capacity to provide products and services for the offshore wind, market offering what it describes as solutions to help speed up deployment.

"Contributing to a project of this size and scale is a great opportunity to demonstrate our offshore expertise to accelerate the development of much-needed projects across the globe," stated Henrik Inadomi, the company's executive vice-president, for new energies.

'Strong wind resource'

South Korea has strong fundamentals for floating wind due to favourable conditions and a limited array of alternative options for the transition to clean energy.

"With a strong wind resource, growing energy needs, and a deep industrial base, Korea is well on track to becoming the first market in the world to deploy floating wind technology at commercial scale," said Principle Power's chief commercial officer Aaron Smith.

He pointed out that Aker Solutions and Principle Power have been involved in the design and delivery of over 75% of the floating wind projects installed to date.

"With these competencies secured, Haewoori Offshore Wind can now focus on supporting the scale up of the Korean supply chain to deliver these floating wind mega projects," he added.

Work will start immediately on FEED and is due to be completed by November 2024,

With a third project in the conceptual engineering phase, the three Haewoori Offshore Wind arrays are expected to provide South Korea with 1.5GW of capacity.

The projects are being developed through a CIP fund for investing in renewable energies, with development led by Copenhagen Offshore Partners (COP) and network company partners.

CIP manages twelve funds and has to date raised approximately €26bn (28bn) for investments in energy and associated infrastructure engaging more than 150 international institutional investors.