World’s Largest Floating Wind Farm Worth $26.5 Billion
South Korea’s Ulsan City has just unveiled an ambitious plan for the world’s largest floating wind farm, marking a bold step in renewable energy innovation.
This groundbreaking project will consist of four floating wind farms, generating a total capacity of 6.2 gigawatts—almost the power of six nuclear reactors!
With an investment surpassing $26.5 billion, the project is backed by a coalition of international companies, including Firefly Energy, Haeuli Offshore, KF Wind, and Gray Whale Offshore.
Strategically located near South Korea’s shipbuilding industry, Ulsan is perfectly suited for this offshore wind initiative due to its consistent 18 mph winds.
Ulsan City expects this project to stimulate local economic growth, attracting significant domestic and foreign investments in energy technology.
Beyond economic growth, the project aligns with South Korea’s commitment to transitioning from coal and nuclear energy to renewable sources like wind power.
By 2030, Ulsan aims to become a global offshore wind energy hub, offering new job opportunities and fostering technological advancements in sustainable energy.
Ulsan Mayor Kim Doo-gyeom emphasized the city’s full support, viewing this mega-project as a pivotal move in South Korea’s energy transition journey.