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Shell is looking to develop a huge floating offshore wind farm in South Korea

Shell is looking to develop a huge floating offshore wind farm in South Korea

Anmar Frangoul: CNBC: PUBLISHED FRI, SEP 3 20217:48 AM EDT

A joint venture centered around the development of a massive floating offshore wind farm in waters off South Korea has been formally established.

Oil and gas major Shell has an 80% stake in the JV, which is called MunmuBaram, with the remaining 20% held by CoensHexicon. The latter is itself a joint venture between South Korea-headquartered COENS and Swedish firm Hexicon.

In a statement earlier this week Shell said the project was in what it described as “a feasibility assessment stage.” If built, the 1.4 gigawatt wind farm would be situated between 65 and 80 kilometers off Ulsan, a coastal city and industrial hub in the south east of the country.

“Shell views offshore wind energy as a key part of a net-zero energy system, both in South Korea and globally,” Joe Nai, Shell’s general manager of offshore wind Asia, said Wednesday.

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