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Total and Macquarie’s Green Investment Group have partnered to develop five floating offshore wind turbine projects in South Korea with a capacity of up to 2GW.

As part of the 50/50 partnership, the two companies agreed to develop floating offshore wind power projects off the east and south coasts near the country’s Ulsan and South Jeolla provinces.

Total Chairman and CEO Patrick Pouyanné said: “Our entry into the floating offshore wind energy segment in South Korea is in line with Total’s strategy of profitably developing renewable energy around the world and contributing to our net zero ambition.

“We strongly believe in the potential of floating offshore wind power in South Korea, which will play a key role in achieving the country’s renewable energy goals.”

A wind data collection campaign has already started at the site, and the two companies intend to begin construction of the first 500 MW wind farm by the end of 2023.

Last July, South Korea unveiled its “Green New Deal” plan through which it aims to develop renewable energy that reaches at least 20% of the energy mix by 2030, including 12 GW of offshore wind power capacity.

The Total / Macquarie partnership will be effective in Fall 2020, subject to regulatory approvals and compliance with other conditions precedent.