Korea Floating Wind (KF Wind), a joint-venture between Ocean Winds (66.7%) and Aker Offshore Wind (33.3%), has obtained its first Electric Business License (EBL) from the South Korean Ministry of Trade, Industry and Energy to develop the Korea Floating Wind project with a capacity of 870MW.
The EBL is a mandatory requirement to generate and supply electricity in South Korea. It grants KF Wind exclusive development rights to carry out the project, based in Ulsan. KF Wind expects the second EBL, for a 450MW capacity, to follow while it continues to pursue the project’s development with the objective of reaching financial close in 2024. Ocean Winds is an Engie 50/50 joint-venture with EDPR.