The company aims to strengthen its position in the floating offshore wind sector through a partnership with Korea Floating Wind Power.
Category: Climate & Environment
SK Ocean Plant has been designated as the preferred supplier of floating structures for Korea Floating Wind Power, the largest floating offshore wind developer in South Korea, according to multiple reports on May 6, 2026. This selection positions SK Ocean Plant to play a key role in the production of floating substructures for the East Blue Power (EBP) project, which is currently under development approximately 80 kilometers off the coast of Ulsan.
This partnership is particularly notable as the floating wind farm is expected to generate about 4,000 GWh of renewable energy annually, which corresponds to roughly 12% of the annual electricity demand of Ulsan and is enough to power approximately one million households. The floating structures are set to be produced at SK Ocean Plant's third factory in Goseong, scheduled for completion in 2028.
SK Ocean Plant has established itself as a leader in the offshore wind industry, having previously supplied fixed substructures for various projects in Taiwan, Japan, and Europe. The recent appointment as a preferred supplier for floating wind structures is expected to bolster the company’s market position in this growing sector.
Korea Floating Wind Power is currently developing a 1,125 MW floating offshore wind farm in the exclusive economic zone (EEZ) near Ulsan, which includes the KFW1 and KFW2 projects, along with the EBP project. This ambitious initiative reflects South Korea's commitment to enhancing its renewable energy capabilities and reducing reliance on fossil fuels.
The company behind Korea Floating Wind Power, Ocean Winds, is a joint venture between global energy giants EDP Renewables and ENGIE, operating 19 offshore wind projects across eight countries. Ocean Winds has made headlines for successfully commercializing the world’s first semi-submersible floating wind technology through its WindFloat Atlantic project in Portugal.
In a statement, SK Ocean Plant CEO Kang Young-kyu expressed pride in collaborating with a leading global offshore wind company, emphasizing the importance of this project for South Korea’s renewable energy sector. He stated, "Participating in the representative floating offshore wind project of South Korea alongside a world-renowned offshore wind leader is very meaningful. We aim to contribute to building a K-floating wind ecosystem that fosters regional industries through our differentiated manufacturing capabilities."
As SK Ocean Plant prepares to manufacture the floating structures, the company is also looking to expand its reach in the global floating offshore wind market. This strategy will involve collaboration with Ocean Winds to explore additional business opportunities in Europe and beyond.
With the floating wind farm expected to be fully operational by 2028, the implications for the local economy are substantial. The project promises to meet a portion of Ulsan's energy needs and aims to create jobs and stimulate growth in the renewable energy sector.
Park Jang-ho, the head of business operations at Korea Floating Wind Power, highlighted the significance of the partnership with SK Ocean Plant. He noted, "SK Ocean Plant is a key partner with proven expertise in large structure manufacturing and quality management, which is necessary for establishing a safe and efficient supply chain. This collaboration will enable the floating offshore wind industry in the Ulsan region to gain global competitiveness."
As the floating wind farm project progresses, it is set to play a central role in South Korea's renewable energy transition, aligning with the government's goals for sustainable energy development. The project marks a major step forward in the country’s efforts to diversify its energy sources and reduce greenhouse gas emissions.