GIG and TotalEnergies Organizing Visit to Advanced Offshore Wind Farm for Residents of Maenggoldo and Geochado Seeking to Facilitate Communication with the Residents as well as Develop the Local Community   lGIG and TotalEnergies organized a field trip to the Hanrim and Tamra offshore wind farms and nearby community in Jeju together with the Maenggoldo and Geochado villagers’ committees and local residents while seeking to develop the local communitylGIG and TotalEnergies are pushing forward the offshore wind projects with a total of 2.5-gigawatt capacity, including 1-gigawatt wind farm in South Jeolla Province and a 1.5-gigawatt wind farm in Ulsan   (November 26, 2021) – Green Investment Group (GIG), a global leading green energy development and investment company, and TotalEnergies, a broad energy company, announced that they organized a three days of field trip to the advanced offshore wind farms in Jeju by visiting nearby villages and fishing villages with the residents of Maenggoldo and Geochado in Jindo-gun, South Jeolla Province, 2 times respectively, from November 10 to 23.   This tour has been prepared to facilitate communication with local residents of villages near the 400-megawatt offshore wind power complex, which GIG and TotalEnergies are promoting in the southwest coast of Maengoldo and also to ensure co-prosperity with the local community from the early stage of the project for building the complex.   During the three-day tour from November 10, the Maenggoldo Villagers Committee and local residents of the islands visited the advanced Hanrim and Tamra offshore wind farms in Jeju. They shared diverse opinions while discussing ways to make sure that the creation of an offshore wind power complex could be practically helpful to the residents. The East and West Geochado Villagers Committees and the residents also participated in the tour from November 21 to 23 to enhance their understanding of the offshore wind farm project being promoted in the region and to explore a development plan suitable for their local conditions.    GIG and TotalEnergies are focusing their efforts on enhancing communication with local residents. Last April, they signed a cooperative agreement with the Maenggoldo Villagers Committee and pledged to establish specific cooperation goals to pursue co-prosperity with the fishery and aquaculture industry of the region while promoting the offshore wind farm project.   GIG and TotalEnergies also made cooperative agreements with the East and West Geochado Villagers Committees in June and July, respectively. Under the agreements, the two companies will make the project a model case of wind farm through continuous communication and cooperation with the local communities across all stages of the project. To this end, the committees will provide necessary cooperation to develop the offshore wind project, while the two companies will sincerely negotiate with the committees, on measures to ensure that the project coexists with the fishery industry and compensates for fishery loss, etc.    During the tours, “I’ve only heard of the offshore wind farm but had no idea how it will look like, I finally realized it from the operating wind farm in front of my eyes. I was able to witness the various effect that an advanced offshore wind farm could bring to the development of a local community,” said Lim Cheon-dong, the chairperson of the Maenggoldo villagers committee. “It was a meaningful time for us to have discussions with the residents of the villages near those wind farms and we could think over some concrete measures to revitalize our community and cooperate with the project developer to ensure the desirable development of Maenggoldo community.”   “We are confident that the Maenggoldo project can be an example of offshore wind farm co-existing harmoniously with the local community, accelerating permitting process including firstly Electrical Business License thanks to the strong support of local residents.” Jo Kwang-won and Han Hyun-Jae, the chairpersons of East and West Geochado villagers committees added their voices.   GIG and TotalEnergies are carrying forward projects to establish offshore wind farms with a total capacity of 2.5 gigawatts, including a 1-gigawatt wind farm near Geomundo in Yeosu city and Maenggoldo in Jindo-gun, South Jeolla Province, and a 1.5 wind farm in the east coast of ​​Ulsan Metropolitan City. Photo 1) GIG and TotalEnergies organized a field trip to the Hanrim and Tamra offshore wind farms and nearby community in Jeju together with the Maenggoldo and Geochado villagers’ committees and local residents while seeking to develop the local community.Photo 2) GIG and TotalEnergies organized a field trip to the Hanrim and Tamra offshore wind farms and nearby community in Jeju together with the Maenggoldo and Geochado villagers’ committees and local residents while seeking to develop the local community. 

‘International Forum of Floating Offshore Wind Farm 2021’ lGIG and TotalEnergies shared the progress of Ulsan’s floating offshore wind farm project and cases of cooperation with the local community at the International Forum of Floating Offshore Wind Farm 2021.lIn a keynote speech video, Julien Pouget, Senior Vice President of the Renewables division at TotalEnergies, stressed the huge potential of Korea's offshore wind power project, such as the offshore wind power capacity to be increased, high expertise and research and development technologies of the Korean shipbuilding and offshore plant industries, and the long-standing partnerships with Korean companies.lThe 1.5-gigawatt wind farm being developed in Ulsan by GIG and TotalEnergies is expected to become one of the world’s largest floating offshore wind parks if all three phases are completed.  (October 7, 2021) – Green Investment Group (GIG), a global leading green energy development and investment company, and TotalEnergies, a broad energy company, announced that they would put a focus of the Ulsan floating offshore wind power project on creating an ecosystem in which they can co-prosper with the local community. At the International Forum of Floating Offshore Wind Farm 2021 held at the Ulsan Exhibition and Convention Center for two days starting October 6, Choi Woo-jin, GIG’s managing director in full charge of Korea’s offshore wind power project, emphasized the importance of creating an ecosystem for co-prosperity with local communities while sharing the progress of Ulsan’s floating offshore wind farm project (project name: Gray Whale I, II, III) and cases of cooperation with the local community. Julien Pouget, Senior Vice President of the Renewables division at TotalEnergies, said in a video as a keynote speaker of the forum: "Korea is working on the development of renewable energies, including 12 gigawatts (GW) of offshore wind by 2030. It is very encouraging that the country has tremendous potential with unique set of local competencies, extensive shipbuilding know-how and country’s ambitious R&D programs, which are highly related to offshore wind power. In addition, TotalEnergies has maintained long-established partnerships with Korea’s shipbuilding and heavy industry companies in the oil and gas industry for the past three decades, and the experience will provide a great advantage in promoting offshore wind farm projects in Korea.” The 1.5-gigawatt wind farm being developed in Ulsan by GIG and TotalEnergies is expected to become one of the world’s largest floating offshore wind parks if all three phases are completed. “We plan to expand our collaboration with companies and agencies in Korea through partnerships as we have obtained the EBL of Phase I of the Ulsan floating offshore wind power project last July from the Electricity Regulatory Committee under the Ministry of Trade, Industry and Energy, the first EBL granted to a floating offshore wind project in Korea, and the development of the project is going forward,” said Choi. He added, “After obtaining the EBL, GIG and TotalEnergies are currently preparing the basic design and a collaboration system with the domestic supply chain. We expect the preparatory procedure for the commencement of Phase I, including the detailed design, will have been completed by the end of 2023 barring any factors for delay in licensing and residents’ acceptance.” Once Phase III is completed, the wind farm will be able to provide clean energy to 1.6 million households. It is also expected to reduce carbon emissions equivalent to the amount of carbon which can be cut by densely planting 30-year-old pine trees on a land 3.6 times the area of Seoul, and create a virtuous cycle in which export-oriented Korean companies can strengthen their international competitiveness based on the clean energy. GIG and TotalEnergies said that they are also striving to nurture talents and experts in the offshore wind power industry, which are key players for carbon neutrality and the transition to green energy. “Early this year, we signed a memorandum of understanding for industry-university cooperation with the Ulsan National Institute of Science and Technology (UNIST) to foster talents in the floating offshore wind industry. We also started providing lectures to graduate students and granting scholarships to outstanding students. Such efforts to discover local talents are essential for the development of the offshore wind power,” said Choi. GIG and TotalEnergies are focusing mostly on the establishment of a local supply chain for Ulsan's floating offshore wind power project. “With our floating offshore wind power project in Ulsan helping the creation of an omni-directional supply chain for materials, parts, and equipment in the region, we seek to contribute to the revitalization of the shipbuilding and offshore plant industries in Ulsan, which are the most competitive in the world, thereby making Ulsan an outpost for export of floating offshore wind power,” Choi said. “As a broad energy company active in more than 130 countries, producing oil and biofuels, natural gas and green gases, and electricity, TotalEnergies is concentrating efforts on green transition by making significant changes to achieve ‘Net Zero’ by 2050,” said Pouget. He also added “We are here to be stronger partner again for South Korea in its energy transition. We are convinced that our Korean development will also be the first stone to build the future hub for large wind farm’s EPCI (Engineering, Procurement, Construction, and Installation) not only in Korea but in the APAC region.”  Marking the third anniversary this year, the International Forum of Floating Offshore Wind Farm 2021 was planned by the Ulsan Metropolitan City and the Korean Wind Energy Industry Association to ensure that Korean manufacturers in the wind energy sector as well as the floating offshore wind power industry can share information on floating offshore wind farm policies and technologies.  "In line with the Korean government’s ‘2050 Net Zero’ initiative, Ulsan is implementing policies to promote renewable energies, and as part of the effort, aims to become a city that takes the lead in carbon neutrality by creating a floating offshore wind park,” Ulsan Mayor Song Cheol-ho said on the forum's official website. “With the floating offshore wind power project, Ulsan became the first municipality that was awarded by the Korean government as the ‘Korean New Deal of the Month’ in June of this year. It also expects to reduce 9.3 million tons of carbon emissions and create 210,000 jobs if the 6-gigawatt wind farm is constructed.”  Photo 1) Choi Woo-jin, GIG’s managing director in full charge of Korea’s offshore wind power project, delivered a speech at the International Forum of Floating Offshore Wind Farm 2021. Photo 2) Julien Pouget, Senior Vice President of the Renewables division at TotalEnergies, said in a video as a keynote speaker of the forum. 

“Establish a K-floating offshore wind farm model”   lGIG and TotalEnergies sign an MoU with the Ulsan Metropolitan City government and the local university, companies, and KWEIA to create a local supply chain and localize equipment for the floating offshore wind project. l“We will localize stages of the floating offshore wind project in Ulsan actively, contributing to job creation and the revitalization of the local economy and helping Ulsan to become a carbon-neutral city,” say GIG and TotalEnergies.   (September 7, 2021) Green Investment Group (GIG), a global leading green energy development and investment company, and TotalEnergies, a broad energy company, signed a memorandum of understanding (MOU) with the Ulsan Metropolitan City government and the city’s university, companies, and KWEIA at the Ulsan city hall on September 7 to localize a supply chain and equipment for the floating offshore wind project in Ulsan.   The signing ceremony was attended by Ulsan city mayor Song Chul-ho and representatives from institutions and companies in the city, including the Ulsan National Institute of Science and Technology, KWEIA, the Ulsan Council for Floating Offshore Wind Power Supply Chain, Hyundai Heavy Industries, Sejin Heavy Industries, and Shinhan Heavy Industries.   The participating companies and institutions pledged to forge an actively cooperative relationship in establishing a supply chain mostly consisting of Ulsan-based companies and localizing equipment while implementing the Ulsan floating offshore wind farm project.   Through the MOU, GIG and TotalEnergies will further shape up their existing business plan of localizing stages of the floating offshore wind project in Korea actively. In particular, they plan to help create a new ecosystem for the floating offshore wind industry in Korea through active partnerships with heavy industry-related companies in Ulsan’s shipbuilding and offshore plant sector, which have the world's best technology and experience. They will also contribute to the local economy and job creation by directly hiring people in Korea for the project.   “GIG and TotalEnergies recognize that the core value of the floating offshore wind project in Korea lies in revitalizing the local economy through the localization of a supply chain and equipment. We will actively cooperate with relevant companies in Ulsan to ensure that the project will become a model case for offshore wind projects and help the companies to make a strong leap forward into the global market,” said GIG (Korea managing) director Choi Woo-jin, in charge of the GIG and TotalEnergies' floating offshore wind project in Ulsan, at the signing ceremony.   Late in July, GIG and TotalEnergies obtained an electric business licence for the first phase of the Ulsan floating offshore wind farm project located 60km off the coast of Ulsan City from Electricity Regulatory Commission under the Ministry of Trade, Industry and Energy. With a maximum installed capacity of 1.5 GW developed across three phases, it’s one of the largest floating offshore wind developments in the world.   As the wind power complex is expected to produce enough electricity to power the equivalent of 1.6 million households each year, as well as reduce carbon dioxide emissions by 2.3 million tons annually, it is expected to make a big contribution to Ulsan’s great energy transition and the achievement of the ‘2050 Carbon-Neutral City Ulsan,’ the vision declared by the city earlier this year.   Meanwhile, GIG, TotalEnergies, and the Ulsan Council for Floating Offshore Wind Power Supply Chain adopted and announced a joint declaration for a memorandum of understanding with other private investment developers to mutually cooperate in establishing the Ulsan floating offshore wind farm. Photo) GIG and TotalEnergies sign an MoU with the Ulsan Metropolitan City government and the local university, companies, and KWEIA to create a local supply chain and localize equipment for the floating offshore wind project. 

lGIG and TotalEnergies have received an EBL for the project of 504-megawatt floating offshore wind power generation in Ulsan. lFirst FOSW project to receive EBL in Korea, if the third phase of the project is completed, the wind farm is expected to be the world’s largest FOSW farm with an installed capacity of 1.5GW.  lBased on the policy of localizing all project phases, GIG and TotalEnergies aim to create about 22,000 jobs in Korea while seeking co-prosperity with Korean companies and revitalization of the local economy in Ulsan.   (July 28, 2021) – Green Investment Group (GIG), a global leading green energy development and investment company, and TotalEnergies, a global energy company, announced on July 28 that they have obtained an electric business license (EBL) that will allow them to establish a floating offshore wind farm with a capacity of 504 megawatts off the coast of Ulsan Metropolitan City.   This is Korea’s first project for a floating offshore wind power station approved by the Electricity Regulatory Commission (ERC) under the Ministry of Trade, Industry and Energy. If the third phase of the project is completed, the wind farm will have a total capacity of 1.5 gigawatts, higher than any other floating offshore wind farms across the world.   The ERC approved the project on July 23 after deliberation and resolution.   The project implemented by GIG and TotalEnergies aims to construct 1.5-gigawatt wind turbines in public waters about 60 kilometers east of Ulsan Port. If completed, the wind farm is expected to produce sufficient electricity to supply to 1.67 million households each year and reduce CO2 emissions by approximately 2.44 million metric tons.   GIG and TotalEnergies plan to establish the wind farm with a total of 1.5 gigawatts in three phases by 2030, starting the construction of the first phase of the project in 2024. The approval was granted to the first phase of the project.   “The award of an EBL is a significant milestone in the development of GIG and TotalEnergies’ Ulsan floating offshore wind farm.” said Shin Jungwon, Co-Representative of GIG and TotalEnergies’ renewables initiative in Korea (Country Chair Korea of TotalEnergies). “We recently completed our wind resource measurement campaign, and having now been awarded exclusive development rights, we’re looking forward to starting detailed environmental impact and engineering assessments.”   In accordance with their policy of localizing all phases of the projects, GIG and TotalEnergies seek to revive the stagnant shipbuilding and offshore plant industry in Korea through active collaboration with shipbuilding and heavy industry companies in Ulsan, create jobs, and finally revitalize Ulsan’s economy. It is expected that a total of 22,000 jobs will be created through the projects.   “With its fantastic infrastructure and offshore experience, Ulsan is the perfect location for floating offshore wind development. That’s why GIG and TotalEnergies are joining hands with Korea’s world-class shipbuilding and offshore industries to deliver this market-leading project. By bringing together specialist local know-how with GIG and TotalEnergies’ global expertise, the Ulsan project will place Korea at the forefront of the global floating offshore wind market,” said Choi Woo-jin, Co-Representative of GIG and TotalEnergies’ renewables initiative in Korea (Managing Director at GIG in Korea). “We will work closely not only with companies in Korea but also colleges here so that this project can serve as an opportunity for Korea to lead the global floating offshore wind power market,” he added.  Photo) GIG and TotalEnergies announced on July 28 that they have obtained an EBL that will allow them to establish a floating offshore wind farm with a capacity of 504 megawatts off the coast of Ulsan Metropolitan City. 

- GIG and TotalEnergies are developing 500MW Offshore wind (“OSW”) project near Maenggoldo island- Executing cooperation agreement to closely engage with stakeholders from the early stage of the project development   (July 15, 2021) – Green Investment Group(GIG), a global leading green energy development and investment company, and TotalEnergies, a broad energy company that produces and markets energies on a global scale, have executed the Cooperation Agreement with the West-Geochado OSW Promotion Committee on July 14 to develop a 500MW OSW project in the southwest sea of the Maenggoldo island, Jindo County, South Jeolla Province.   Maenggoldo Offshore Wind Power Co., Ltd. (a whole owned subsidiary of the GIG and TotalEnergies) announced that they are executing this agreement to fully communicate with the relevant stakeholder, the West-Geochado OSW Promotion Committee from the very beginning stage of the development. GIG and TotalEnergies also executed the Cooperation Agreement with East-Geochado OSW Promotion Committee last month.   GIG and TotalEnergies and the Committee specified detailed methodology to develop offshore wind farm that can co-exist with local society. The agreement says the Committee agrees on the OSW development activities and cooperates necessary supports, and GIG and TotalEnergies shall diligently discuss the community contribution and damage compensation that may be caused by the OSW construction and operation with the Committee.   The chairman of the Committee, Mr. Han Hyun Jae, said, “Through this agreement, we could pursue mutual benefits in developing the OSW project from early stage. We hope that the project would be exemplary for coexistence between residents, fishermen and the developer.”   GIG and TotalEnergies are developing 1GW in Jeonnam region and 1.5GW in Ulsan region, a total of 2.5GW capacity of floating OSW projects. Through the floating OSW project development, GIG-TotalEnergies is planning to promote Korean shipbuilding and marine plant industry, which is experiencing a downturn nowadays, by cooperating with shipyards, heavy industries, and related supply chains. Photo) GIG and TotalEnergies have executed the Cooperation Agreement with the West-Geochado OSW Promotion Committee on July 14.