- Published: 12 April 2023 12 April 2023
K2 Management (K2M) has been appointed by MunmuBaram, a joint venture of Shell and Hexicon, as Lender’s Technical Advisor for the MunmuBaram floating offshore wind project.
The MunmuBaram JV aims to develop, construct, and operate a 1.3GW floating offshore wind farm, located in Southeast Korea between 65 and 80 km offshore from the city of Ulsan. K2M will support the client by reviewing the general project status and conducting a bankability assessment. In the second phase, K2M will provide full technical due diligence in every aspect of the project, including but not limited to: energy yield assessment; technology and design; and project execution strategies, while continuing to engage with lenders for various supporting activities until financial close. An option for further engagement as a Lender’s Technical Advisor throughout the rest of project lifetime, including the monitoring of the construction and operation periods, is also part of the agreement.