Aker Solutions, Principle Power Win FEED Deal for 1 GW South Korean Floater

Business & Finance

February 15, 2024, by Adnan Memija

Haewoori Offshore Wind 2 and 3, Copenhagen Infrastructure Partner’s (CIP) floating offshore wind projects in South Korea, have awarded a front-end engineering and design (FEED) contract to Aker Solutions and Principle Power for the floating foundations.

Principle Power Aker Solutions Haewoori — *Source: Principle Power*

Haewoori 2 and 3 are planned to have a capacity of 500 MW each. The floating offshore wind projects will be located off the coast of Ulsan.

As part of the scope, Aker Solutions will coordinate the design and delivery of the floating foundation structures required for the Haewoori Offshore Wind project and perform the front-end engineering design of the inter-array cable, marshaling port, wind turbine integration, and transport and installation.

In addition, the company will carry out execution planning, and work with Haewoori Offshore Wind to engage with the Korean supply chain to maximise local engagement in the projects.

Principle Power will work under subcontract to perform the design of the floating platforms and mooring system based on its WindFloat technology.

Work will start immediately on the FEED and is due to be completed by November 2024.

“The combined technical expertise and know-how of Aker Solutions and Principle Power will provide us with the capabilities to deliver one of the first industrial scale floating wind projects in the world. Together, we will continue to engage the Korean supply chain to bring the knowledge from real deployment experience, thereby helping Korea to accelerate its floating offshore wind industry, while reducing cost and risk for these first projects,” said Jonathan Spink, CEO of Haewoori Offshore Wind.

The Haewoori Offshore Wind is a 1.5 GW floating project located off the eastern coast of Ulsan. The project is under development and undergoing survey and permitting activities.

“With a strong wind resource, growing energy needs, and a deep industrial base, Korea is well on track to becoming the first market in the world to deploy floating wind technology at commercial scale,” said Aaron Smith, Chief Commercial Officer at Principle Power.