RWE eyes South Korea offshore wind project

German company agrees with Ulsan Metropolitan City to cooperate on development of floating project with a capacity of up to 1.5GW

German energy company RWE has agreed to work with South Korea’s Ulsan Metropolitan City to potentially develop a floating offshore wind project with up to 1.5GW of capacity. RWE joins a growing list of several European energy companies exploring large-scale wind projects offshore South Korea in recent months, and highlights the Asian country’s status as one of the fastest-growing markets in the sector. The country’s goal is to scale up offshore wind capacity to 12GW and for renewables to account for 30pc of the energy mix by 2030. “South Korea’s excellent wind resource, in combination with deep waters close to energy demand, poses a great opportunity for floating wind,” says Sven Utermoehlen