Aker Solutions is positioned in another country to grow with renewable energy sources. The floating offshore wind park they and their partners plan outside Ulsan could be over five times the size of Norwegian Hwywind Tampen.
In a statement Friday, the Norwegian group for oil services announced that they have now formed a group with WindPower Korea and the renewable division of the Portuguese energy company EDP (EDP Renewables).
The goal is to develop a huge 500-megawatt wind farm with PrinciplePower's WindFloat technology platform in front of the big Ulsan shipyard in South Korea.
Acer Solutions believes that these types of dimensions need to be addressed to gain profitability in floating offshore wind.
Companies do not disclose what they pay for the shares.
By comparison, 500 megawatts is equivalent to over 5.5 times the size of the Hywind Tampen project, where Equinor and its partners plan to install 11 floating onshore wind turbines to provide renewable power to the North Sea Snorre and Gullfaks fields.
EDP Renewables and Aker Solutions are now joining their own Korea Floating Wind Power (KFWind) company along with existing WindPower Korea owner. Power principle, where Acer Solutions is a shareholder, is withdrawing from the project and would focus more on technology and service operations in Korea.
Acer Solutions has been present in South Korea for many years due to oil and gas projects, but there is new ground in their renewable efforts.
"The new group is committed to supporting the South Korean government's ambitious renewable energy plans, which aim to install 13 gigawatts of offshore wind by 2030 and set a target of at least 30 percent renewable energy by 2040," it writes. Acer Solutions.
KCWind, now owned by Acer Solutions, signed a letter of intent with Ulsan's authorities in January to co-operate to develop overseas wine-floating projects and support Ulsan's industrial development, according to the Norwegian company. .
Authorities in Ulsan want to build the shipyard into an industrial center for the production of offshore wind equipment nationally and for export internationally.
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Supplier on the Owner's Side
In the transition from the daily life of oil and gas to more renewable energy, many of the business structures are also changing.
While Acer Solutions is a supplier of oil and gas companies today, the company has also taken ownership of the rebuilding initiative.
They are doing this now in the South Korean project and have already done so in a large offshore wind project in California.
In addition, American Power, where Acer Solutions owns 23 percent, has just begun installing the world's largest wind turbines to date. The WindFloat Atlantic project will be withdrawn offshore by the end of 2019.
Acer Solutions views this as an important milestone for technology, consisting of a semi-submersible hull platform well known by the oil and gas industry.
EDP is the main owner of WindFloat Atlantic, which also owns Angie and Repsol. The power principle holds 1.2 percent of the project, which will contribute to technology development and lower costs.
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