1.5GW offshore wind plant in South Korea to use ‘next generation’ lithium-ion battery energy storage

Share on linkedin
Share on twitter
Share on reddit
Share on facebook
Share on email
G8 completed its first Korean wind project in 2017 and opened an office in the country last month. Image: G8 Subsea.

A 1.5GW offshore wind power plant in South Korea will be paired with energy storage provided by so-called ‘next generation’ lithium-ion batteries.

Singapore-Norwegian company G8 Subsea, a specialist in subsea engineering and floating and offshore renewable energy projects, has signed an agreement to develop the project with South Korean industrial business group Holim Tech. 

An official signing ceremony between the two parties took place on 24 December after an inspection of construction site and coastal facilities the previous month. Local authority planning permission to proceed has also been granted, G8’s chief operating officer in Korea, Pascal Cheon, said this week. 

For G8, this will be its second wind power project in Korea, following a 60MW project completed in 2017. It officially opened a Korean office in December 2021, and said at the time it planned to develop 2GW of offshore renewable energy projects with Korean partners.

Holim Tech has coastal storage and quayside construction facilities which can support wind turbine engineering and manufacturing activities as well as what has been described as “strong government links” at municipal and local authority level which can help it and its partners to get and secure offshore renewable energy projects. 

The signing of the agreement initiates “the commercial execution of this significant project,” Cheon said. 

The plant will include an advanced energy storage system (ESS), to ensure the optimal stabilisation of energy output and manage energy going to the grid. It will also include high voltage subsea power cables installed using G8’s cable laying and protection technologies, which the company claimed will ensure long-term stability of its connection to the grid. 

The batteries used will come from 3DOM, a Japan-headquartered company which has developed technologies including a lithium manganese iron phosphate (LMFP) battery which has high energy density cathodes offering thermal stability and long life, high temperature resistant lithium-ion batteries and proprietary separators. 

In early December, Energy-Storage.news reported that G8 had signed a transaction agreement with 3DOM’s Singapore-based subsidiary 3DOM Singapore (3DOM SG), to use the latter’s battery technology in its renewable energy projects in Asia

The agreement included a share swap and an acquisition of a 5% stake in G8 by 3DOM for up to US$10 million — giving the subsea and offshore specialist a US$200 million valuation. 

3DOM SG is meanwhile targeting a business combination with Reenova, an investment company in Singapore which would give it a US$1 billion valuation. 

Read Next

January 19, 2022
A major supply deal and exchange of energy storage system (ESS) technologies and components has been agreed between Honeywell and Norwegian lithium-ion battery manufacturing startup FREYR Battery. 
January 17, 2022
With over 25 years’ experience as a firefighter and now part of a group that specialises in battery storage safety, Paul Rogers at Energy Safety Response Group knows all about fire safety from both sides of the fence.
January 17, 2022
The start of work on a hybrid renewable energy project combining large-scale wind power, solar PV and energy storage, marks “an important moment in South Australia’s clean energy transition,” the state’s energy minister has said. 
January 13, 2022
Fluence has entered a collaboration with solid-state lithium-metal battery startup QuantumScape, with the pair working together to develop stationary energy storage solutions using the new technology.  
January 11, 2022
LG Energy Solution will use proceeds from its initial public offering (IPO) this month to feed into growing the company’s manufacturing capacity significantly in Europe, the Americas and Asia.

Most Popular

Email Newsletter