The consortium was formed as EDP Renewables, one of the top wind energy producers globally, and Aker Solutions, an engineering and technology company with a 40-year track record of realizing offshore projects, have invested in the development company Korea Floating Wind Power (“KFWind”), joining founding shareholder WindPower Korea. Principle Power, which had a role in […]
Aker Solutions and EDP Renewables to Develop Floating Wind Farm in Ulsan, South Korea WindPower Korea, EDP Renewables and Aker Solutions have formed a consortium with the ambition to develop an initial 500 megawatt (MW) floating wind farm off the coast of Ulsan Metropolitan City in South Korea. The consortium was formed as EDP Renewables, […]
The Daesan integrated refining and petrochemicals complex in South Korea, owned by Hanwha Total Petrochemical , has started its new ethylene production capacities. With a $450 million investment, the site can now produce 1.4 million tons per year of ethylene, an increase of 30%. This project was launched in April 2017 and is the first […]
Equinor , Korea National Oil Corporation (KNOC) and the Korean power company Korea East-West Power (EWP) have formed a consortium to develop the floating offshore wind project Donghae 1 off Ulsan in South Korea. The consortium is currently launching the development of a 200MW floating wind farm to be located close to the KNOC-operated Donghae […]
Saudi Aramco is advancing its global chemicals growth strategy with today‘s inauguration of S-Oil’s new Residue Upgrading Complex and Olefin Downstream Complex. The new facilities feature the latest refinery technologies, which have raised S-Oil’s petrochemical portion from 8% to 13% and includes high-value products such as propylne and gasoline. The inauguration of the complex was […]
Korea Electric Power Corporation (KEPCO), the country’s largest electric utility, awarded ABB Power Grid’s business with a large order to build two new converter stations. One station on the mainland converts the power from alternative current (AC) to direct current and transfers the electricity by undersea cable with almost no losses to Jeju Island, where […]
Renewables
The Abu Dhabi National Oil Company (ADNOC) announced today that it is building the world’s largest single underground project ever awarded for oil storage, with a capacity of 42 million barrels of crude oil, in the Emirate of Fujairah on the eastern coast of the United Arab Emirates. An Engineering, Procurement and Construction (EPC) contract […]
Korea National Oil Corporation (KNOC) and Equinor ASA have signed a Memorandum of Understanding to jointly explore the opportunities to develop commercial floating offshore wind in South Korea. “South Korea has large potential and offers attractive opportunities within offshore wind. We are pleased to sign a MoU with KNOC to strengthen our collaboration. We look […]
Hanwha Total Petrochemical, a 50/50 joint venture between Total and Hanwha, will invest nearly $500 million to further expand its Daesan integrated refining and petrochemical complex in South Korea. The planned investment will increase polypropylene capacity by close to 60% to 1.1 million tonnes per year by the end of 2020. The ethylene capacity will […]
Hanwha Total Petrochemical, a 50/50 joint venture between Hanwha and Total, will invest more than $300 Million to expand its integrated refining & petrochemicals platform located in Daesan, South Korea. The investment will increase the site’s polyethylene capacity by more than 50% to 1.1 million tons per year by the end of 2019. This project […]
