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[Apha Biz=(Chicago) Reporter Paul Lee] POSCO International will join hands with Norwegian energy company Equinor to launch eco-friendly projects such as offshore wind power, low-carbon hydrogen, ammonia and liquefied natural gas (LNG).
POSCO International signed a memorandum of understanding (MOU) with Equinor on July 7 for comprehensive cooperation in the eco-friendly sector. Under the agreement, POSCO International has decided to push for an 'offshore wind project' with Equinor. It is a project to build the world's largest floating offshore wind power generation complex with a total capacity of 750㎿ by installing 50 15㎿ wind power generators on the coast of Ulsan at 70㎞.
Floating offshore wind power does not significantly interfere with fishing activities compared to fixed offshore wind power installed on the coast, the company explained. Analysts say that there is no blockage of wind at sea, so electricity can be produced in a stable manner with relatively uniform wind speeds.
The two companies plan to find opportunities to develop joint projects in the field of low-carbon hydrogen and ammonia, establish a steel supply chain for offshore wind power, and strengthen business cooperation in the field of LNG-related value chain (exploration, production, storage and power generation).
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