Top executives of Green Investment Group, Total and Hyundai Heavy Industries on Monday held a webinar to exchange ideas on how to cooperate regarding 1.5 gigawatts of floating offshore wind projects in Ulsan.

GIG, a UK investment entity focused on green transition, and Total, a French oil and gas company, are set to co-develop the offshore wind power farms near the city.

Ulsan Mayor Song Cheol-ho hosted the webinar, attended by GIG global head Mark Dooley, Total Senior Vice President Julien Pouget and HHI president Han Young-seok. Dooley and Pouget pledged to establish a local supply chain for the projects, while HHI President Han Young-seok promised a full-scale cooperation based on the company’s expertise in shipbuilding and offshore engineering.

“During the projects, GIG aims to promote participation from local companies and discuss running a workforce training and education program with local universities. Also, GIG plans to offer online lectures, scholarship and internship programs regarding the projects,” Dooley said.

Pouget said, “Total has maintained a close partnership with Korean companies and will endeavor to create various opportunities where local companies and workforce can grow during the projects.”

GIG and Total’s collaboration is expected to get an extra momentum as HHI, which had been previously lukewarm about the projects, eventually decided to take part, according to an Ulsan city government official.

HHI, which has expertise in building offshore plants, will construct floating structures for the wind turbines.

During the talks, Han said, “At a time when HHI was looking for a new growth engine amid the sluggish recovery of the shipbuilding industry, the global shift to renewable energy and the floating offshore wind power projects, which are part of Korea’s Green New Deal initiative, grabbed our attention.

“With its expertise in shipbuilding and offshore engineering, HHI will cooperate with private investors such as GIG and make investments in the projects,” he added.

By Kim Byung-wook (kbw@heraldcorp.com)