South Korean Floating Wind Project Inks Transmission Agreement with KEPCO

The 1,125 MW MunmuBaram floating offshore wind farm, being developed by Hexicon and Shell in South Korea, has entered into a Transmission Service Agreement (TSA) with Korea Electric Power Corporation (KEPCO).

MunmuBaram is collaborating with two other developers on the grid connection facilities. These facilities are said to enable the efficient transfer of clean energy from each wind farm to the mainland, ensuring a stable and reliable power supply.

The grid connection from the MunmuBaram offshore wind farm to KEPCO’s substations is scheduled to commence in March 2029, following the construction of the joint grid connection facility.

“The signing of the TSA with KEPCO is a significant achievement for Munmubaram, as it marks one of the most important milestones during the development phase. Hexicon remains committed to delivering clean energy to South Korea and its people”, said Marcus Thor, CEO of Hexicon.

The agreement was signed with KEPCO during an official ceremony, along with other developers in the Ulsan Floating Offshore Wind Association. According to Hexicon, this achievement signifies a commitment from KEPCO to ensuring a grid connection for 6 GW of renewable energy to the national grid for many years to come.

In August, South Korea’s Ministry of Environment and Ministry of Trade, Industry and Energy approved the Environmental Impact Assessment (EIA) for the MunmuBaram floating offshore wind farm.

The 1,125 MW project is planned to be built approximately 60 kilometres off the coast of Ulsan, in the southeast region of South Korea.

In February, Hexicon signed an agreement with Shell[1] to acquire the full stake of the MumnuBaram project. From 1 July 2024, Hexicon is formally operating the wind farm. A change of control application has been submitted to the South Korean authorities that is currently being processed, Hexicon said.

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