POSCO E&C-Equinor agree to exclusive supply of Ulsan Firefly offshore wind power

POSCO E&C announced on the 24th that it signed an ‘Ulsan Firefly Offshore Wind Power Exclusive Supply Agreement (PSA)’ with Firefly Energy, 100% invested by Equinor, a Norwegian state-run comprehensive energy company, at its Songdo office in Incheon on the 20th.

The Ulsan Firefly Offshore Wind Power Project is a large-scale project to build a floating offshore wind power plant with a power generation capacity of 750 MW in the sea 70 km away from Ulsan Port. It is capable of supplying electricity to approximately 440,000 households annually. Equinor aims for commercial operation in 2030.

With this agreement, POSCO E&C will carry out the basic design and then build the cable support point, underground line, and onshore substation that transmits power produced at sea to land. Equinor is currently preparing to participate in a competitive bidding for a fixed-price wind power contract, and if successful, the Ulsan Firefly offshore wind power project is expected to be promoted in earnest.

In August last year, POSCO E&C agreed to strategic cooperation with Equinor in areas such as Ulsan Firefly offshore wind power and offshore wind power development, construction, and transportation near Chuja Island. Since then, the two companies have been holding regular consultative meetings and are continuously seeking to expand domestic offshore wind power business strategies and cooperation measures.

An official from POSCO E&C said, “We are concentrating hard on the offshore wind power business to reduce carbon toward building an eco-friendly future society,” and added, “Based on the synergy of group companies with strengths in the steel field, excellent offshore wind power construction technology, and experience in offshore construction in Ulsan, we are developing a variety of offshore wind power projects.” “We plan to expand cooperation with Equinor in the power generation field,” he said.

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