Shell will lead a new joint venture (JV) planning to build a giant floating wind farm that could supply power to a million South Korean homes.

The oil supermajor has linked with floating wind technology and contracting partnership CoensHexicon for the JV, called MunmuBaram and set up to advance a 1.4GW project off South Korea’s southeast coast.

Shell will hold 80% of MunmuBaram with CoensHexicon – itself an alliance between contractor Coens and 'two-headed' floating wind pioneer Hexicon – owning the remainder.