© Reuters. Joo Young-kyu, CEO of Shell Korea, “Ulsan offshore is the best place for wind power generation”
“We plan to invest more than 6 trillion won in offshore wind power, which generates electricity from the wind through generators floating on the sea in Ulsan.”
Joo Young-kyu, president of Shell Korea, said on the 4th, “We will float 84 floating facilities the size of a football field, 100m wide and 100m long, off the coast of Ulsan to generate electricity that can be used by 1 million . households annually.”
Shell Korea, the Korean subsidiary of Shell, a global energy company, is promoting a floating offshore wind power generation project in Ulsan through Munmu Baram, a joint venture with Hexicon Korea, a wind power company. President Joo also serves as the CEO of Munmu Baram. Munmu Baram plans to complete the construction of a 1,300 MW offshore wind farm floating in the sea 65 km southeast of Ulsan by the end of the 2020s.
Five global energy companies, including Shell Korea, Equinor, Total, KFW, and CIP, have jumped into the Ulsan offshore wind business. President Joo explained that offshore Ulsan is one of the best places for floating offshore wind energy projects. “The wind speed off the coast of Ulsan is relatively fast at 8.4m per second,” he said. “The expected operating rate of wind energy facilities is relatively high at 40%. He added, “It is also an advantage to be able to easily procure equipment and parts from the world’s 1st and 2nd largest shipbuilding companies and offshore plants concentrated in Ulsan.”
Thanks to Shell Korea, the domestic shipbuilding industry is expected to secure trillions of new jobs worth of hard earned work. “The installation of floating offshore wind power generators creates 35,000 jobs per GW,” said President Joo.
Correspondent Kim Ik-hwan lovepen@hankyung.com
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