Amsterdam Capital Partners (AMSCAP), G8 Subsea, Saemangeum Development and Investment Agency of Korea (SDIA) and Saemangeum Offshore Wind Power (SOWP) have agreed to jointly develop offshore wind in Korea’s Samangeum Industrial Complex.
AMSCAP and G8 will work mainly alongside SOWP respectively in a financial and a technical perspective for the joint development of offshore wind.
The plans for the area include 300MW of offshore wind and up to 2.7GW of floating photovoltaic located on the West coast of Korea.
“SOWP has clearly paved the way for offshore wind in Korea and we are very excited to contribute our structuring expertise and bringing financial partners to the region to execute this project and the further offshore wind plans,” said Michael van der Heijden, Founder of AMSCAP.
SOWP developed the 100MW Saemangeum offshore wind farm, which is a fully-permitted project in the final development stage, with all local and national permits and regulatory approvals secured.
SDIA is in charge of administrative services and support, from master planning and coordination to investment attraction and promotion.
In 2017, SDIA and SOWP signed a Memorandum of Understanding (MoU) to develop the offshore wind project at South Korea’s estuarine tidal flat Saemangeum.