Korea Floating Wind (KF Wind), the joint venture between Ocean Winds (66.7%) and Aker Offshore Wind (33.3%), has obtained its second Electric Business License (EBL) from the Ministry of Trade, Industry, and Energy of the Republic of Korea for a capacity of 450 MW.
Obtaining the second EBL represents another key step towards realizing the world’s first large-scale commercial floating wind project. The EBL is a mandatory requirement to generate and supply the electricity in South Korea and follows the 870 MW EBL that KF Wind was granted at the end of January 2022. Overall, KF Wind’s floating wind project now holds a 1.32 GW EBL capacity, covering the 1.2 GW net capacity target (based on grid limits), and able to power the equivalent of over 1.3 million households.
KF Wind has already commenced most of the field studies and is continuing its engagement with key local users of the ocean as required to secure the remaining permits. The permits are expected to be approved during 2023, to reach financial close in 2024.