CIP’s Haewoori Offshore Wind awards FEED contract for 1GW floating project to Principle Power and Aker Solutions

FEED and Detailed Design Contract Signing Ceremony

15 February 2024

Haewoori Offshore Wind 2 (500MW) and 3 (500MW), Copenhagen Infrastructure Partner’s floating offshore wind projects off the coast of Ulsan, Korea have awarded a front-end engineering and design (FEED) contract to Aker Solutions and Principle Power for the floating foundations.

As part of the scope, Aker Solutions will coordinate the design and delivery of the floating foundation structures required for the Haewoori Offshore Wind project and perform the front-end engineering design of the inter-array cable, marshaling port, wind turbine integration, and transport and installation.

Principle Power will perform the design of the floating platforms and mooring system based on its proven and bankable WindFloat® technology. Aker Solutions will also carry out execution planning, and work with Haewoori Offshore Wind to engage with the Korean supply chain to maximise local engagement in the projects.

After a robust selection process, we are happy to collaborate with Aker Solutions and Principle Power for the FEED for the delivery of floating structures. The combined technical expertise and know-how of Aker Solutions and Principle Power will provide us with the capabilities to deliver one of the first industrial scale floating wind projects in the world.

Together, we will continue to engage the Korean supply chain to bring the knowledge from real deployment experience, thereby helping Korea to accelerate its floating offshore wind industry, while reducing cost and risk for these first projects.

Jonathan Spink
— CEO of Haewoori Offshore Wind

Kincardine Offshore Wind Farm in operation off the coast of Scotland

At Aker Solutions, we are committed to working in close collaboration with customers and partners to further strengthen our market offering and speed-up the deployment of offshore wind solutions. Contributing to a project of this size and scale is a great opportunity to demonstrate our offshore expertise to accelerate the development of much-needed projects across the globe. Working together with Principle Power, we aim to provide a technically advanced offering and support Haewoori Offshore Wind in realizing these landmark developments.

Henrik Inadomi
— Executive Vice President, New Energies at Aker Solutions

With a strong wind resource, growing energy needs, and a deep industrial base, Korea is well on track to becoming the first market in the world to deploy floating wind technology at commercial scale. The selection of Aker Solutions and Principle Power, contractors who together have been involved in the design and delivery of over 75% of the floating wind projects installed to date, provides access to the proven WindFloat® technology and unparalleled capabilities. With these competencies secured, Haewoori Offshore Wind can now focus on supporting the scale up of the Korean supply chain to deliver these floating wind mega projects.

Aaron Smith
— Chief Commercial Officer at Principle Power

Work will start immediately on FEED and is due to be completed by November 2024,

About the Haewoori Offshore Wind Project

Haewoori Offshore Wind is a 1.5GW floating offshore wind project located off the coast of Ulsan, South Korea. Haewoori Offshore Wind is invested and developed by Copenhagen Infrastructure Partners (CIP) via its Flagship Fund in collaboration with its development and technical partners including Copenhagen Offshore Partners (COP) and other network companies. As one of the first commercial scale floating offshore wind projects in Korea and also globally, Haewoori Offshore Wind is committed to support South Korea’s clean energy transition and contribute to achieving energy security and carbon neutrality by 2050.

About Copenhagen Infrastructure Partners

Copenhagen Infrastructure Partners (CIP) is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity and storage and Power-to-X. CIP manages twelve funds and has to date raised approximately EUR 26bn for investments in energy and associated infrastructure from more than 150 international institutional investors.For more information, visit www.cip.com

About Principle Power

Principle Power is a pure play global technology and services company for the floating wind energy market. The company’s proven WindFloat® product portfolio – consisting of the WindFloat T and WindFloat F – is unlocking offshore wind potential worldwide by enabling projects to harvest the best wind resource, irrespective of water depth or seabed condition. Principle Power acts as a trusted partner to developers, independent power producers, utilities and EPCs, supporting its customers throughout the entire lifecycle of their projects. With 75 MW of capacity already in operation, Principle Power is now guided by its “300x30” industrialization vision to deliver 300 floating wind turbines by 2030, propelling the industry into the gigawatt scale era. The company has secured exclusivity to supply WindFloat® technology to commercial-scale projects in all key floating wind markets totaling 10 GW of projects under design contract.

Learn more at www.principlepower.com

About Aker Solutions

Aker Solutions delivers integrated solutions, products, and services to the global energy industry. The company enables low-carbon oil and gas production and develops renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution, Aker Solutions accelerates the transition to sustainable energy production. For more information, visit www.akersolutions.com.

26 September 2023