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November 26, 2021

Ulsan Offshore Wind Project_GIG, South Korea

By Carmen

Ulsan Offshore Wind Project_GIG is a 1,500MW offshore wind power project. It is planned in Sea of Japan, Ulsan, South Korea. The project is currently in announced stage. It will be developed in multiple phases. The project construction is likely to commence in 2023 and is expected to enter into commercial operation in 2025.

Project Type Total Capacity (MW) Active Capacity (MW) Pipeline Capacity (MW) Project Status Project Location Project Developer
Offshore 1,500 1,500 Announced Ulsan, South Korea SK Engineering & Construction; TotalEnergies

Description

The project is being developed by SK Engineering & Construction and TotalEnergies. The project is co-owned by Green Investment Group and TotalEnergies, with their respective ownership stake of 50% each. The turbines will be mounted on a floating type foundation.

Ulsan Offshore Wind Project_GIG (Ulsan Offshore Wind Project Phase I) consists of 50 turbines.

Development Status

The project construction is expected to commence from 2023. Subsequent to that it will enter into commercial operation by 2025.

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About SK Engineering & Construction

SK Engineering & Construction Co Ltd (SK E&C), a subsidiary of SK Holdings Co Ltd, is a general construction contracting company. SK E&C offers engineering, procurement and construction (EPC) services in the areas of housing, petrochemical, infrastructure, industrial, and technology sectors. The company executes the construction of residential buildings, intelligent buildings, cultural facilities, hostels, sports complexes and other construction and engineering-related projects. SK E&C also provides project development, financing, engineering, procurement, and operation and maintenance related services. It provides petrochemical, oil refining, and gas plant construction services, and industrial plant and engineering services. SK E&C has operations in Asia, Europe, the Middle East and the Americas. The company is headquartered in Seoul, South Korea.

About TotalEnergies

TotalEnergies SE (Total), formerly Total SE, is an integrated global energy company that discovers, produces, refines and markets oil and gas, and also manufactures petrochemicals. It carries out drilling, oil and gas production, processing, transportation, refining and petrochemical production, storage and distribution of petroleum products and specialty chemicals. It conducts power generation and gas trading and operates in the renewable energy sector. Total supplies feedstock to refineries, charters ships and undertakes trading on various derivative markets. The company serves consumers in transportation, automotive, aerospace, energy, housing and manufacturing industries. It has operations in Asia-Pacific, Africa, Europe and Commonwealth of Independent States, the Middle East, and North and Central America. Total is headquartered in Courbevoie, France.

Methodology

All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.

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