ULSAN < invest Korea

According to Yonhap News,

Ulsan's Foreign Investment Delegation (led by Ulsan's mayor), on a visit to Germany, signed an MOU with RWE, an offshore wind power company, for the creation of a floating offshore wind farm.

Ulsan-si said on November 28 that the delegation had visited the RWE headquarters in Essen at 11 am local time on November 27 and signed the MOU.

RWE, founded in 1898, is a supplier of electricity and natural gas, and regarded as a world-class offshore wind power company by entering the new and renewable energy field.

The city concluded this MOU to establish a cooperative relationship with private investing companies while pushing for the project to create a floating offshore wind farm to revitalize the local economy and create jobs.

According to this MOU, RWE will work together to create jobs and prepare measures for mutual win-win with Ulsan citizens by transferring technology to local companies, fostering human resources, and establishing industrial bases and supply chains.

Ulsan-si will cooperate by providing administrative support necessary for RWE to create, operate, and maintain the offshore wind farms.

With this MOU, the city expects to gain momentum in the creation of a floating offshore wind farm, which has been pushed for as a key project of the 7th popularly-elected local government.

In particular, as RWE is conducting a project to produce green hydrogen in large quantity using offshore wind power in Europe in stages, this MOU will be an opportunity to achieve both offshore wind power and green hydrogen.

Ulsan's mayor said, "Ulsan's floating offshore wind farm project will be moving forward more smoothly thanks to the MOUs with German companies, who are leading the new and renewable energy field."

Meanwhile, the delegation also signed an MOU with 'BayWa r.e.', another new and renewable energy company in Germany November 25.

As BayWare and RWE are expected to build the offshore wind farms with a total capacity of 3 GW (gigawatt) in Ulsan, the city expects that the scale of floating offshore wind power off the coast of Ulsan will increase from previous 6GW to 9GW.

hkm@yna.co.kr

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Source: Yonhap News (November 28, 2021)