Ulsan City European Investment Delegation Visits Leading Swedish Floating Offshore Wind Company Hexicon

Ulsan City Delegation Visits Hexicon in Sweden
Discusses Cooperation on Floating Offshore Wind Power Project

The Ulsan City European Investment Promotion Delegation, led by Vice Mayor for Economic Affairs Ahn Hyodae, visited Hexicon in Stockholm, Sweden, at 10:00 a.m. local time (5:00 p.m. Korean time) on June 13 and held a meeting with CEO Marcus Thor.

Hexicon is a Swedish floating offshore wind power company that is currently promoting the Munmu Wind project, which aims to generate 750MW of electricity within the floating offshore wind farm off the coast of Ulsan.

Munmu Wind Project off the coast of Ulsan. Provided by Hexicon.

This project was initially launched as a joint venture between Shell and Hexicon, but on December 6, 2024, Hexicon completed the acquisition of Shell's entire stake in the project.

Marcus Thor, CEO of Hexicon, visited Ulsan City Hall on September 11 last year and discussed cooperation measures for floating offshore wind power with delegation leader Ahn Hyodae.

During this meeting, delegation leader Ahn Hyodae explained, "With the enforcement of the Special Act on Activation of Distributed Energy in June last year, a legal basis has been established for more companies to receive electricity at lower prices," and added, "If Ulsan is designated as a 'specialized distributed energy zone' in the first half of this year, it will provide further momentum for promoting the Ulsan floating offshore wind power project."

As a result of the meeting, Ulsan City and Hexicon agreed to continue promoting the floating offshore wind power project through mutual cooperation and to build a close and mutually beneficial partnership.

The Ulsan floating offshore wind farm is located in the exclusive economic zone (EEZ), 58 kilometers east of Ulsan Port. Five private investment companies are participating in the project, which aims to build a power generation complex with a total capacity of 5.8GW.

Hexicon is currently engaged in offshore wind power projects in eight countries, including Sweden, the United Kingdom, and Italy. In Korea, in addition to Ulsan, Hexicon is also promoting a 0.8GW project in Pohang.