POSCO E&C announced on October 30 that it has signed a strategic business agreement with South Korean shipping company Namsung Shipping and offshore wind power developer HA-Energy for the construction of an offshore wind farm in South Korea.
POSCO E&C is preparing to build a 750-megawatt (MW) offshore wind farm on the sea surface 70 kilometers from the port of Ulsan in cooperation with Norwegian state-owned energy company Equinor. This is enough to supply electricity to all households in Ulsan Metropolitan City, and POSCO E&C has been working on the conceptual design of the onshore transmission line since January.
Special vessels such as Geotechnical Survey Vessels (GTVs), Cable Laying Vessels (CLVs), and Anchor Handling Tug Supply Vessels (AHTVs) are essential to carry out such large-scale floating offshore wind power projects, but there are currently no such vessels in Korea.
Through this strategic agreement, the company plans to secure specialized vessels and competitive technologies for the offshore wind power business to preempt the transportation and installation fields in the domestic floating offshore wind power market, including the Ulsan wind power project, and to open up new blue oceans.
As a model of win-win cooperation in the offshore wind power business between large and medium-sized companies, the agreement is expected to lead the domestic offshore wind power market by expressing synergies based on each company's expertise and technological competitiveness.
Meanwhile, in August, POSCO E&C signed a strategic agreement with Equinor, a global offshore wind power leader, to promote "Ulsan Firefly project".
In April, the company also collaborated with DNV, the world's largest international certification organization for offshore wind power, to strengthen its engineering capabilities, further accelerating its green energy business by making offshore wind power a new growth engine for the company.
