K2 Management has signed a Memorandum of Understanding (MoU) with Taean Wind Power and Dohwa Engineering for the Taean offshore wind farm in South Korea.
K2 Management will work as the owner’s engineer and consult on the financing and construction of the offshore wind project located in the Yellow Sea.
The company has also entered a service contract to undertake the initial work on the wind farm following the MoU. The full mandate includes a cost analysis of the main equipment, transportation, installation, substructure, grid linkage and construction of offshore power plant.
K2 Management will also perform a preliminary feasibility study including energy yield assessment, full geophysical investigation, partial geotechnical study and conceptual engineering designs.
“It is a privilege to work with Taean Wind Power and Dohwa Engineering on this milestone project, supporting the delivery of another offshore development in Korea from a very early stage,” said Kwang-Woon Jung , Country Director for Korea at K2 Management.
“Signing the MoU and service contract will bring together three strong partners who share the common goal of progressing the offshore wind industry, developing a strong local supply chain and ensuring that the Korean offshore industry continues to go from strength to strength.”