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South Korea's First Commercial-Scale Offshore Wind Farm to Proceed - The Maritime Executive

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"datePublished": "2023-10-11T20:39:51-0400",
"articleBody": "South Korea’s first commercial-scale offshore wind farm is moving forward with the project expected to begin construction and enter service by the end of 2024. Copenhagen Infrastructure Partners, through its fund Copenhagen Infrastructure III, and its partner SK E&amp;S reached financial close and are proceeding with the project as their first step toward developing the country’s offshore renewable energy industry.

Jeonnam Offshore Wind Power was founded in 2020 as a 51-49 joint venture between SK E&amp;S and Copenhagen Infrastructure Partners (CIP) and the project is expected to become the first Korean commercial-scale offshore wind farm to go into operation in 2024. The project has been developed by a joint team comprised of SK E&amp;S and Copenhagen Offshore Partners, the exclusive offshore wind development partner to CIP.

The first phase of the offshore wind project, Jeonnam I, calls for a 99 MW offshore wind farm off the southwest coast of Korea. It is expected to provide green electricity equivalent to approximately 60,000 households in Korea.

The companies have been working through the process, helping South Korea to establish the framework for its offshore energy industry. Jeonnam Offshore Wind Power obtained an Electricity Business License in 2017 and entered a grid connection agreement with KEPCO, the state-owned utility in South Korea, allowing the project to connect to the grid during 2024. In 2022, Jeonnam I was awarded a 20-year fixed-price offtake agreement with Korea Hydro &amp; Nuclear Power through Korea’s first wind offtake auction. 

Throughout 2022, the project also signed manufacturing and construction contracts with Korean suppliers including Hyundai Engineering and Steel Industries, Hyundai Electric and Gaon, KT Submarine, and LS Cable and System. The project will utilize Mokpo New Port as the marshaling port throughout construction.

“Korea has a vast potential for offshore wind,” says Torsten Lodberg Smed, senior partner at CIP. “CIP has, since entering the Korean market in 2018, invested significantly in developing the country’s wind power projects in multi-giga watts scale and its supply networks and foster a strong industry ecosystem.”

They expect this will be the first phase of a multi-stage project that will support Korea’s ambitious target of reaching 14.3 GW of offshore wind power by 2030, a significant increase compared to the existing 1 MW installed today. SK E&amp;S and CIP are also jointly developing Jeonnam 2 and Jeonnam 3, two offshore wind projects with a total capacity of 800 MW.

CIP notes that it is also pursuing partnerships in Korea regarding the development and supply of blue and green ammonia. CIP looks to play a broader role in further facilitating Korea’s green transition.
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<figcaption>The offshore wind farm will be staged from the Mokpo New Port in southwest Korea</figcaption>
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<p>South Korea&rsquo;s first commercial-scale offshore wind farm is moving forward with the project expected to begin construction and enter service by the end of 2024. Copenhagen Infrastructure Partners, through its fund Copenhagen Infrastructure III, and its partner SK E&amp;S reached financial close and are proceeding with the project as their first step toward developing the country&rsquo;s offshore renewable energy industry.</p>

<p>Jeonnam Offshore Wind Power was founded in 2020 as a 51-49 joint venture between SK E&amp;S and Copenhagen Infrastructure Partners (CIP) and the project is expected to become the first Korean commercial-scale offshore wind farm to go into operation in 2024. The project has been developed by a joint team comprised of SK E&amp;S and Copenhagen Offshore Partners, the exclusive offshore wind development partner to CIP.</p>

<p>The first phase of the offshore wind project, Jeonnam I, calls for a 99 MW offshore wind farm off the southwest coast of Korea. It is expected to provide green electricity equivalent to approximately 60,000 households in Korea.</p>

<p>The companies have been working through the process, helping South Korea to establish the framework for its offshore energy industry. Jeonnam Offshore Wind Power obtained an Electricity Business License in 2017 and entered a grid connection agreement with KEPCO, the state-owned utility in South Korea, allowing the project to connect to the grid during 2024. In 2022, Jeonnam I was awarded a 20-year fixed-price offtake agreement with Korea Hydro &amp; Nuclear Power through Korea&rsquo;s first wind offtake auction.&nbsp;</p>

<p>Throughout 2022, the project also signed manufacturing and construction contracts with Korean suppliers including Hyundai Engineering and Steel Industries, Hyundai Electric and Gaon, KT Submarine, and LS Cable and System. The project will utilize Mokpo New Port as the marshaling port throughout construction.</p>

<p>&ldquo;Korea has a vast potential for offshore wind,&rdquo; says Torsten Lodberg Smed, senior partner at CIP. &ldquo;CIP has, since entering the Korean market in 2018, invested significantly in developing the country&rsquo;s wind power projects in multi-giga watts scale and its supply networks and foster a strong industry ecosystem.&rdquo;</p>

<p>They expect this will be the first phase of a multi-stage project that will support Korea&rsquo;s ambitious target of reaching 14.3 GW of offshore wind power by 2030, a significant increase compared to the existing 1 MW installed today. SK E&amp;S and CIP are also jointly developing Jeonnam 2 and Jeonnam 3, two offshore wind projects with a total capacity of 800 MW.</p>

<p>CIP notes that it is also pursuing partnerships in Korea regarding the development and supply of blue and green ammonia. CIP looks to play a broader role in further facilitating Korea&rsquo;s green transition.</p>

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<h2 class="title">
<a href="https://maritime-executive.com/article/cma-cgm-s-logistics-arm-deploys-…; target="_blank" class="font-firasans">CMA CGM&#039;s Logistics Arm Deploys Container-Unpacking Robot</a>
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Published
Oct 12, 2023 11:15 PM by
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<p class="summary">
CEVA, the warehousing and logistics arm of French container liner CMA CGM, plans to use robots from U.S. firm Boston Dynamics at a new transload facility near the twin ports of Los Angeles and Long Beach, the biggest import gateways for the U.S. consumer market.&nbsp;

The transload facility was built for sorting packages at high speed. It will be among the first in the U.S. to employ Boston Dynamics&#39; robots for package-handling, Stretch.&nbsp;

The Stretch robot is purpose-built for unloading...
</p>

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<a href="https://maritime-executive.com/article/u-s-navy-misses-enlisted-recruit…; target="_blank" class="font-firasans">U.S. Navy Misses Enlisted Recruitment Target by 20 Percent</a>
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Oct 12, 2023 10:09 PM by
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<p class="summary">
As predicted by its leaders, the U.S. Navy has missed its recruiting goals for fiscal year 2023 by a wide mark, according to Navy Recruiting Command.

On Tuesday, the command said that it brought in 30,200 enlisted active duty sailors this year, about 7,500 people (20 percent) short of its goal. It also missed its target for Navy Reserve enlisted recruits by 1,000 people.

For active-duty and reserve officers, recruitment fell short by 500 and 800 people respectively.&nbsp;

The Navy...
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<a href="https://maritime-executive.com/article/huntington-ingalls-wins-contract…; target="_blank" class="font-firasans">Huntington Ingalls Wins Contract for Up to 200 Unmanned Sub Drones</a>
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Oct 12, 2023 9:25 PM by
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<p class="summary">
Huntington Ingalls Industries (HII) has secured a major U.S. government contract for the production of small unmanned undersea vehicles (UUVs) based on a well-known platform, the REMUS 300.

The REMUS series began life at Woods Hole&#39;s Oceanographic Systems Lab. It was spun off as a commercial company, Hydroid, in 2001, then bought by Kongsberg in 2007. HII acquired Hydroid in 2020 as part of a move to diversify into unmanned and autonomous systems, and it has expanded the range to...
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<h2 class="title">
<a href="https://maritime-executive.com/article/colombian-navy-seizes-3-tonnes-o…; target="_blank" class="font-firasans">Colombian Navy Seizes 3 Tonnes of Cocaine in 20th Semisub Bust of 2023</a>
</h2>

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Published
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<p class="summary">
The Colombian Navy is celebrating its 20th semi-submersible seizure of the year with a remarkable 3.3 tonne cocaine bust, the service announced Tuesday.&nbsp;

Colombia is the leading nation of origin for cocaine, and it exported a record 1,700 tonnes of the expensive drug last year, according to the UN Office on Drugs and Crime. Wholesale prices are highest in Australia, Europe and the United States, and the price per kilo increases more than tenfold when transported from Colombia to the...
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