South Korea’s first floating wind power complex has taken a key step forward with the signing of a memorandum of understanding (MoU) between the southeastern industrial port city of Ulsan and four groups reportedly aiming to eventually build out a combined 1GW of offshore capacity off the island nation.

The MoU, inked by Ulsan mayor Song Chul-ho and development consortia, made up of SK E&S / Copenhagen Infrastructure Partners (CIP), Shell / CoensHexicon, the Green Investment Group, and Wind Power Korea / Principle Power, sets in motion plans to deploy in the region of 100 units at various “deep water” sites some 50km (31 miles) offshore, with the first stage of a multi-developer project to be switched on in 2022.