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Shell and CoensHexicon secure Electricity Business License for South Korean project

By: Tom Russell 29/11/2021 MunmuBaram

General Windfarms

MunmuBaram Co., Ltd., a joint venture between Shell (80%) and CoensHexicon (20%), has secured an Electricity Business License (EBL) for its floating offshore wind project off the coast of Ulsan, South Korea.

The EBL from the Ministry of Trade, Industry and Energy grants the partners exclusive development rights to progress 420 MW of wind energy, nearly a third of the project's total planned 1.3 GW output. This is the first time that Shell and CoensHexicon have received exclusive development rights for offshore wind in Asia.

“Acquiring the Electricity Business License is a key enabler for the MunmuBaram floating offshore wind project which could, if realized, provide renewable power to over 1 million Korean households," said YoungKyu Ju, the Project Director of MunmuBaram. "MunmuBaram will continue to communicate and cooperate with various stakeholders, including the local fishermen community and relevant organizations in Ulsan."

Since 2019, MunmuBaram has been carrying out groundwork such as the wind data measurement campaigns. In September, MunmuBaram was the first floating offshore wind developer in South Korea to successfully complete a geotechnical and geophysical surveys.

Following the award of the EBL, MunmuBaram will continue to progress the floating offshore wind project development through Environmental Impact Assessment (EIA), marine traffic survey, cultural heritage inspection survey and other activities. Subject to future investment decisions, MunmuBaram project will be developed in phases and, once constructed, expects to generate up to 4.2 terawatt-hour (TWh) of clean electricity every year.

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Shell and CoensHexicon secure Electricity Business License for South Korean project

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