Projects

South Korea

• The South Korean Government’s IES 2030 plan targets an increase in renewable power generation, from 8% to 20% by 2030 and 30-35% by 2040
• Aker Offshore Wind owns a share of the project development company KF Wind which has secured one out of five Memorandum of Understandings (MoUs) with Ulsan City and three potential sites for development
• The project has a total potential capacity of 1,500 MW with electricity production from first phase of 500 MW from 2025-26, and is developed in a strong consortium with Ocean Winds and local partner, WPK

United States

• California has set ambitious renewables goals, targeting 60% of the electricity produced from renewables by 2030 and carbon neutrality by 2045
• The Redwood Coast Offshore Wind Project (RedCOW) was established in 2018 as a consortium with Aker Solutions and EDP Renewables (now Ocean Winds)
• Project has the potential to be a flagship project for the state, with an initial capacity of 150 MW by 2025

Norway

• The Norwegian government has opened two areas for offshore wind development with a potential capacity of about 4.5 GW: Sørlige Nordsjø II and Utsira Nord
• The license award process starts in January 2021
• Project Sønnavindar is located in Sørlige Nordsjø II
• Project Vestavindar is located in Utsira Nord
• Aker Offshore Wind targets cooperation with Aker BP to drive industrialization of offshore wind and thereby create an opportunity for large-scale electrification of the Norwegian Continental Shelf
• The two projects seek to realize a power hub infrastructure and an energy island for power export to continental Europe

Scotland

• The United Kingdom plans to reach zero emissions by 2050 and targets 40 GW of offshore wind by 2030
• Upcoming Scotwind lease round to open in 2020 and aims to provide 10 GW in new installed capacity
• Agreement in place between reputable energy company and Aker Offshore Wind to jointly bid in the upcoming Scotwind process