Shell & Hexicon JV Names Vestas for Large Scale Floating Wind Project

Global Wind Firm Vestas' Revenue Plunges 5.2% YoY Amid 'Geopolitical Volatility'

A joint venture between Shell and Hexicon AB called MunmuBaram has chosen Vestas as its turbine supplier for a project.

The said project is a floating offshore wind project in South Korea and boasts of 1.3 GW. Hexicon AB develops floating offshore wind farms and designs dual turbine floating wind power platforms while Shell is a global group of energy and petrochemical companies. Vestas is a renowned manufacturer of wind turbines based in Denmark.

Upon the finalisation of the project, Vestas will look into the supply and installation of 84 units of the V236-15.0 MW turbine project. The turbines will be established in project area of nearly 240 square kilometres. The water depths for the floating project will vary between 120 and 150 metres.

Once it kicks off, this will be the first announced floating offshore project on large scale for Vestas,

“We are excited to engage in this innovative project that spearheads the global offshore wind industry and underlines our ambition to partner with customers and suppliers to make floating offshore wind energy profitable, scalable, and serviceable. Vestas continues its ambition to be a leader in offshore wind and we remain committed to contribute to South Korea’s clean energy target, in close partnership with our customers,” said Purvin Patel, President of Vestas Asia Pacific.

Following installation, the Danish wind turbine manufacturer will provide O&M services for the wind farm for a twenty-year period. In the wake of the project, Vestas will also lead to the creation of local jobs as well as provide training for offshore service technicians by setting up a service organisation.

”Vestas will open a new frontier of offshore wind by providing our V236-15.0 MW turbines as the best solutions for this milestone floating project,” said Srdan Cenic, Country Manager of Vestas Korea & Vice President, Head of Sales Offshore of Vestas Asia Pacific. He further added, “We will deliver the unparalleled competitiveness of Vestas’ technology combined with our experience in floating wind project execution to strengthen our customers’ business case for the project. As the largest announced floating project world-wide, MunmuBaram will place South Korea as a leading country in floating offshore wind.”

Vestas also shared that offshore wind energy is making inroads worldwide and advancements within floating foundations pave the way for offshore wind power to supply new markets.

“Large-scale turbines will make floating offshore wind projects more economically feasible by improving the yields. For stable operation of large-scale turbines, the integration with floating foundations (floaters) is essential,” said YoungKyu Ju, the Project Director of MunmuBaram. He was hopeful to contribute to the development of Korea’s offshore wind market, “This agreement will help develop a competitive floating offshore wind business model by optimising Vestas’ 15 MW turbines with locally produced floaters. We look forward to help Korea’s offshore wind industry grow through the successful development of commercial-scale floating offshore wind project.”

The turbine maker currently has an installation capacity exceeding 8 GW or over 1,500 offshore turbines all over the world. The firm has also installed turbines on floating foundations for more than year, which includes projects off the coasts of Scotland and Portugal.

This is the third time that MunmuBaram and Shell have forged a partnership. The said project is precded by the 730 MW Borssele III/IV offshore wind project in the Netherlands, as well as the Atlantic Shores’ 1.5 GW offshore wind project in the USA.

South Korea has set a target of 12 GW offshore capacity by 2030. This is a part of its Green New Deal. South Korea has been capitalising on its offshore wind energy industry in a big way. In February 2021, the country announced its plan for the 8.2 GW Shinan offshore wind project.