South Korea

A joint venture between Hexicon AB and Shell

Key Facts

Capacity1125 MV
Hexicon shares20%



The MunmuBaram project was established 2018 and is a joint venture between Hexicon AB and Shell. The project area is located between 65 to 80 kilometres off the coast from the city of Ulsan in southeast South Korea. In 2022 the project was granted all three Electricity Business Licenses (EBLs) by the South Korean Ministry of Trade, Industry and Energy to progress the development. The project targets an output of 1,2 GW and aims to be a commercially scaled floating ‎wind farm delivering clean and affordable electricity to millions of Korean households.


South Korea aims to raise renewables’ share to 20% by 2030 and up to a striking 42% by 2034, the ambition is to become carbon neutral by 2050. South Korea is focusing on expanding solar and wind power. By 2025, it aims to install 42.7 gigawatts of new solar and wind energy.


Milestones achieved

Since 2019, the project has been carrying out the groundwork such as the wind data measurement campaigns. In September 2021, MunmuBaram was the first floating offshore wind developer in South Korea to complete the geotechnical and geophysical surveys needed. The project continues its accelerated development both on the technical and permitting fronts. Vestas has been selected as the preferred turbine supplier for the project and the agreement includes the supply of turbines as well as a 20-year service and maintenance contract.


Munmubaram Head Office