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Stockholm-based floating offshore wind developer Hexicon is rising its direct possession of a deliberate 1.3 GW MunmuBaram venture off the southeast coast of South Korea.
The MunmuBaram JV venture is among the greatest deliberate floaters on this planet being developed by Shell with an 80% stake and Hexicon Korea, a three way partnership between Hexicon and Korean firm COENS & Co, holding the remaining 20%.
Hexicon holds 49% within the JV and has up till now not directly owned just under 10% of MunmuBaram. The Swedish developer is now rising its direct possession and is shopping for 20% of the venture firm from the joint-venture Hexicon Korea for an undisclosed sum.
“It is a vital occasion for Hexicon, as we strengthen our place as a world-leading venture developer of floating wind. The MunmuBaram Undertaking stands out in our portfolio with its dimension and maturity, and rising our possession alerts our dedication and perception within the venture. All in all, this places us in a strategically advantageous place for future returns”, mentioned Marcus Thor, CEO of Hexicon.
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