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The MunmuBaram-project in South Korea is granted two additional Electricity Business Licenses (EBL). The first EBL was secured for the area in November 2021.
With now a total of three EBLs, the Ministry of Trade, Industry and Energy has granted the MunmuBaram project exclusive development rights to progress the total planned output of 1.3GW. The MunmuBaram is a floating offshore wind project off the coast of Ulsan, South Korea. It is a joint venture between Shell (80%) and CoensHexicon (20%), where CoensHexicon is a JV between Hexicon (49%) and Korean company Coens Co (51%).