South Korea: Companies Eye to Develop Floating Offshore Wind

CoensHexicon Co Ltd was established in 2018 by the South Korean service provider Coens Co., Ltd based in Busan, Korea and the Swedish developer of twin turbine foundations Hexicon which has been developing floating wind farm designs since 2009 and has been searching for projects suitable for its patented technology.

CoensHexicon has now teamed up with energy company Shell to build a floating wind farm approximately 40 km offshore from the city of Ulsan. Ulsan is the industrial powerhouse of South Korea where the world's largest automobile assembly plant, the world's largest shipyard and the world's third largest oil refinery are located.

Henrik Baltscheffsky, CEO of Hexicon AB and Director of CoensHexicon Co., Ltd, said: “This is the start of our commercial journey in South Korea and similar places around the globe. We have formed a project company in Busan, TwinWind Development Co. Ltd, obtained an adequate water area offshore Ulsan City and are developing the first commercial floating wind farm. Our collaboration with Shell will contribute a wealth of skills and expertise when it comes to developing and operating a large floating wind farm. This includes serial manufacturing in South Korea of the patented multi-turbine foundation design developed by Hexicon in Sweden.”