Norwegian energy major Equinor has teamed with Posco International to develop the world’s largest floating offshore wind power complex.
The Firefly floating wind farm will have a total capacity of 750MW by installing 50 units of 15MW floating offshore wind turbines offshore Ulsan.
Floating offshore wind power does not interfere with fishing activities more than fixed offshore wind farms and since they are installed further offshore than fixed ones there is no wind blockage allowing for stable power production.
Apart from the Firefly project, the two firms also agreed to develop hydrogen and ammonia projects, establish a steel supply network for offshore wind power, and develop the entire value chain of LNG for sustainable energy solutions.
Posco recently declared its target to achieve carbon neutrality by 2050 as well as its desire to reduce carbon emissions by 37% by 2030 compared to 2021.
To this end, the Korean company also plans to develop a 300MW offshore wind farm by 2027 in addition to 14.5MW of solar power and 62.7MW onshore wind power. Its decarbonisation strategy also includes the expansion of its wind power business to 2GW by 2030 by participating in the joint development of offshore wind power projects in the East Sea region.
