GIG Launches Ulsan Offshore Wind Project by Completing Installation of Korea’s First Floating LiDAR
- Green Investment Group (GIG) installs Korea’s first
floating LiDAR system.- The LiDAR will collect wind resource data and its
installation marks a critical step in the development of GIG’s first offshore
wind project in South Korea, located off the coast of Ulsan City.- The project will contribute to the local economic
development of Ulsan and support the South Korean Government’s - ‘Renewable
Energy 3020 Implementation Plan’. (June 10, 2019) Green Investment Group (GIG),
a global leading green energy development and investment company, announced
that that it has completed the installation of Korea’s first floating LiDAR. The
installation of the LiDAR is one of the first critical steps in the development
of GIG’s first Korean offshore wind farm located about 60 kilometers east of
Seosang-myon, Ulju-gun, Ulsan City. GIG is a major global green energy investor
and developer, dedicated to accelerating the growth of the global green
economy. With over 350 green energy specialists working across the globe GIG is
home to one of the world’s largest teams of specialist green investors. GIG is a leading investor in offshore wind
having provided capital to 15 offshore wind projects totaling over 4.5 GW of
capacity across the globe, including 50% of the UK’s operational offshore wind
capacity and Taiwan’s first commercial-scale offshore wind farm. This deep
experience provides GIG with a unique insight and perspective on wind farm
development, construction, operations and maintenance. The Ulsan project is a 1.4 GW offshore wind
project, which is being progressed in three separate phases. Development of the
first 400 MW phase is targeted for completion in 2022. The LiDAR is a wind resource assessment device
which will collect data on the site of the wind farm to help determine its
suitability for development. It will collect critical data relating to wind
speed and direction which will support GIG in designing the project and
evaluating its influence on the environment, ecosystem and fishing industry.
The LiDAR assessment period will last approximately two years, during which
time detailed project plans will continue to be developed in collaboration with
stakeholders and related organisations. While floating LiDAR systems are commonly used
across Europe and other advanced offshore wind markets this is first time it
has been used in Korea for a commercial offshore wind farm. GIG is committed to maximising the local
economic impact of the development and is actively seeking the participation of
local companies and academics. Korea Maritime University, Zen Limited and
Vision Plus are currently working with the project, managing the design and
stability testing of berthing facilities, installation and operations. GIG has also recently signed a Memorandum of
Understanding (MOU) with Energy Infra Asset Management, a KRW 2 trillion Korean
renewable energy fund manager. Through the MoU, the partners will work together
to successfully deliver the Ulsan offshore wind project and support the South
Korean Government’s Renewable Energy 3020 Implementation Plan. The 3020 plan
aims to produce 20% of South Korea’s energy from renewable sources by 2030 and
support the growth of its clean energy industry. “I’m delighted to launch Korea’s first ever
floating LiDAR system - a significant milestone in the development of our
project and Korea’s burgeoning offshore wind market. With its access to steel,
ships, offshore plant expertise and port logistics, Ulsan city is perfectly
positioned to deliver a fantastic offshore wind farm,” said Choi Woo-jin,
Associate Director leading the Ulsan development, “GIG is a leading
global expert in offshore wind having supported over 4.5 GW of offshore wind
capacity since 2013. Our ambition is for the Ulsan project to contribute to
local economic development, revitalize local industries, create jobs and
support the South Korean Government’s Renewable 3020 plan.” Photo 1)
GIG has completed the installation of Korea's first commercial floating LiDARs for
the Ulsan floating offshore wind farm project. Photo 2)
GIG has completed the installation of Korea's first commercial floating LiDARs for
the Ulsan floating offshore wind farm project.Photo 3)
A wind-measuring LiDAR installed 46 kilometers east of Onsan Port in Ulsan for
the Ulsan floating offshore wind farm development project.