East West Power joins forces with Deep Wind Offshore in South-Korea
Deep Wind Offshore has signed an agreement with East West Power, to collaborate on projects totalling more than 4GW offshore wind in South Korea.
Norwegian offshore wind developer Deep Wind Offshore (DWO) has signed a Memorandum of Understanding with East West Power (EWP), one of Korea’s state-owned power generation companies. EWP is currently accounting for 11,2 GW of all power generation facilities in South Korea. DWO and EWP will collaborate on four projects totalling more than 4GW of floating and bottom fixed offshore wind in South Korea.
From left to right: Tay Hwan Oh, Managing Director EWP, Sang Kie Cho, Vice president EWP, Yung. Moon Kim, President & CEO EWP. Knut Vassbotn CEO Deep Wind Offshore, Ho Keun Song, Country manager DWO. Dong Hyun Lee, Head of business development DWO
- We are extremely excited to collaborate with EWP on these projects. The complementary capabilities of our companies create a solid foundation for successfully developing the projects to benefit the energy transition in Korea and provide opportunities for the national supply chain and local communities, says CEO Knut Vassbotn in Deep Wind Offshore.
Participating in the offshore wind energy sector is the global trend and essential element for the sustainable growth of EWP. Most of all, Korea has a great infrastructure to support the offshore wind project, such as shipbuilding, steel industry etc and this outstanding technology will make the project more stable and feasible. We will collaborate together with Deep Wind Offshore for the promotion of domestic wind power growth and industrial base and an opportunity for win-win development with local society, says Mr. Young-Moon Kim, CEO of EWP
Deep Wind Offshore is a developer and owner of offshore wind projects globally. Its Korean outfit has offices in three locations around the peninsula, which is solely focused on offshore wind development.
The company is backed by strong industrial owners, including Knutsen OAS who have been present in Korea since 2004. Over the last three decades, Knutsen OAS has been a major client to the Korean shipyards, and has currently 21 vessels being built in Korea.