Singapore-based underwater engineering company G8 has received approval to continue plans for a 1.5 GW offshore wind project agreed with South Korean industrial conglomerate Holim Tech.
The offshore wind farm is to be coupled with a next-generation lithium-ion energy storage system with an ultra-long service life from G8 technology partner 3DOM, which would stabilize the power transmitted to the grid.
It is to consist of 189 turbines with individual outputs of 8 MW, which are installed on floating platforms.
The project is to be built off the southwestern tip of South Korea, about 60 km from the coast. Its location has wind speeds of 7-8 m / s, said a G8 spokeswoman Wind power monthly.
The developers have received permission to use the site from the regional fisheries and shipping authorities and additional permission from the Ministry of Trade, Industry and Energy. They are working with the fisheries authorities on cable routes and transmission landing points before construction begins.
The two companies signed the project agreement on December 24, 2021, two weeks after the G8 office was established in Korea.
They aim to achieve financial close as early as 2023 and begin construction and ship work in 2023 or 2024 before the three phases of the project go live by 2026.
Pascal Cheon, Chief Operating Officer of G8 Korea, said: “We are excited to begin commercial execution of this major project after thorough evaluation and planning with the approval of the local authorities. The construction and operation of our turbine plant here will also contribute to the creation of jobs in the future. “
Gerald Tan, Managing Director of the G8 Group, added, “Energy storage will be an important element in driving large-scale renewable energies. This project will be an important step for both the G8 and the South Korean wind power industry because it will be one of the largest offshore wind farm projects in Asia to leverage our next generation energy storage technologies and our commercial and utility customers to offer a complete and long-lasting energy storage solution. “
G8 plans to lay the project’s high-voltage marine power cables with its precise cable laying and protection technologies to ensure maximum long-term security of the power connection to the grid. The specified facilities and offshore turbine structures will apply “world-leading standards” while supporting the local construction and shipping industries, the G8 said.
At the beginning of December, in addition to its battery technology supply contract with 3DOM, G8 also announced a technological development framework agreement with the South Korean building construction company Wookyung Engineering & Construction for floating offshore wind structures. These will include G8’s proprietary modular Tractive Buoyancy (MTB) system to boost offshore renewable energy generation in South Korea.
Several developers have announced plans for large offshore wind farms off South Korea, including Shell and CoensHexicon, Ocean Winds, EDPR and Aker Solutions, Equinor, TotalEnergies (then known as Total) and Green Investment Group, and Ørsted. Plans for an 8.2 GW project off the southwest coast have also been announced.
South Korea aims to become one of the top five countries for offshore wind use by 2030 with a target of 16.5 GW, said its President Moon Jae-in.