POSCO E&C Signs MOU to Secure Dedicated Vessels and Technology for Offshore Wind Power

POSCO E&C announced on the 31st that it has signed a strategic business agreement with Namseong Shipping and HA-Energy to advance offshore wind power construction projects in South Korea.

Kim Yong-gyu, CEO of Namseong Shipping (from left), On Sang-woong, Head of Infrastructure Business Division at POSCO E&C, and Park Sang-jun, CEO of HA-Energy, are posing for a commemorative photo after signing the "Domestic Offshore Wind Power Project Transportation and Installation (T&I) Business Agreement" at the POSCO E&C headquarters on the 30th. / Photo by POSCO E&C

Currently, POSCO E&C is preparing to build the 750MW 'Ulsan Firefly' offshore wind power plant on the sea surface 70 km away from Ulsan Port in collaboration with Equinor, a Norwegian state-owned energy company. This scale is sufficient to supply electricity to all households in Ulsan City, and POSCO E&C has been conducting conceptual design for onshore transmission lines since January.

To promote large-scale floating offshore wind projects, special vessels such as a geotechnical survey vessel (GTV) for marine ground investigation, cable laying vessel (CLV) for submarine cable installation, anchor handling tug vessel (AHTV), and service operation vessel (SOV) for maintenance and support are required in waters less than 100 meters deep. However, the domestic environment makes it difficult to prepare such vessels.

Accordingly, through the strategic business agreement, POSCO E&C plans to secure dedicated vessels and competitive technology for offshore wind projects and to take the lead in the transportation and installation (T&I) sector in the domestic floating offshore wind market, including the Ulsan wind power project. Namseong Shipping will be responsible for the construction and operation of T&I vessels, while HA-Energy will handle engineering for vessel construction.

Meanwhile, POSCO E&C is accelerating its efforts in eco-friendly energy business by adopting offshore wind power as a new growth engine. In August, it signed a strategic agreement with Equinor, a global leader in offshore wind power, to promote the Ulsan Firefly, Hupung, and Chujin offshore wind power projects. Earlier in April, it also collaborated with DNV, the world's largest offshore wind international certification body, to strengthen engineering capabilities such as integrated load analysis and certification processes.