A development consortium made up WindPower Korea, EDP Renewables (EDPR) and Aker Solutions has been formed to build a 500MW floating wind project off the coast of South Korean, moving forward ambitious plans by the south-east Asia nation for a giant offshore power complex off the industrial port city of Ulsan.

The group, one of four that signed memoranda of understanding with the city’s authorities in January, will use Principle Power’s WindFloat platforms for the project, which will be developed by special purpose company Korea Floating Wind Power (KFWind).