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Macquarie’s Green Investment Group (GIG) and TotalEnergies have obtained an electricity business license (EBL) for their floating offshore wind project located off the coast of Ulsan, Korea.
 
It is the first floating offshore wind project in Korea to awarded an EBL by the Ministry of Trade, Industry and Energy’s Electricity Regulatory Commission. With a maximum installed capacity of 1.5 GW the project will be developed across three phases. The EBL grants the partners exclusive development rights to progress the project’s first phase of 504 MW. Detailed environmental impact assessments will now commence on phase one, and construction is expected to start in 2024.
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