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EDPR, Aker form JV to build Korean floating wind farm

EDP Renováveis SA and Aker Solutions ASA have joined WindPower Korea in forming a joint venture to develop a 500-MW floating wind project off the coast of Ulsan Metropolitan City in South Korea.

The joint venture, Korea Floating Wind Power, or KFWind, was formed in light of South Korea's target to install 13 GW of offshore wind power by 2030 and at least 30% renewable energy by 2040.

KFWind signed a memorandum of understanding with the city of Ulsan in January to cooperate on the development of floating wind projects.

EDP Renováveis is majority-owned by EDP - Energias de Portugal SA.