If built, the project would be located in waters off the coast of Ulsan, South Korea.
Insung Jeon | Moment | Getty Images
A joint venture centered around the development of a massive floating offshore wind farm in waters off South Korea has been formally established.
Oil and gas major Shell has an 80% stake in the JV, which is called MunmuBaram, with the remaining 20% held by CoensHexicon. The latter is itself a joint venture between South Korea-headquartered COENS and Swedish firm Hexicon.
In a statement earlier this week Shell said the project was in what it described as “a feasibility assessment stage.” If built, the 1.4 gigawatt wind farm would be situated between 65 and 80 kilometers off Ulsan, a coastal city and industrial hub in the south east of the country.
Water depths for the proposed facility, which would be developed in phases, range between 120 and 160 meters. It would be expected to produce as much as 4.65 terawatt hours of energy annually, powering over 1 million households.
“Shell views offshore wind energy as a key part of a net-zero energy system, both in South Korea and globally,” Joe Nai, Shell’s general manager of offshore wind Asia, said Wednesday.
The formal establishment of the MunmuBaram venture comes as authorities in South Korea target carbon neutrality by the year 2050. The country wants renewable energy’s share in power generation to hit 20% in 2030, up from 7.6% in 2017, and aims to develop 12 gigawatts of offshore wind capacity by 2030.
Major players
Shell is not the only big firm involved in projects focused on floating offshore wind. Last month, it was announced that RWE Renewables and Kansai Electric Power had signed an agreement that will see the two businesses study the feasibility of a large-scale floating offshore wind project in waters off Japan’s coast.
And back in 2017, Norwegian energy major Equinor opened Hywind Scotland, a 30 megawatt facility it calls “the first full-scale floating offshore wind farm.”
Floating offshore wind turbines are different to bottom-fixed offshore wind turbines that are rooted to the seabed. RWE describes floating turbines as being “deployed on top of floating structures that are secured to the seabed with mooring lines and anchors.”
One advantage of floating turbines is that they can be installed in deeper waters compared to bottom-fixed ones. As the Carbon Trust, an advisory firm, notes: “Sites further from shore … tend to benefit from more consistent wind resource, meaning floating wind can deliver higher yields.”
While Shell is working on renewable energy projects and says it wants to become a net-zero emissions energy firm by 2050, it remains a significant producer of fossil fuels. In February, the business confirmed its total oil production had peaked in 2019 and said it expected its total carbon emissions to have peaked in 2018, at 1.7 gigatonnes per year.
First Solar just cut the ribbon on a huge new factory in Iberia Parish, Louisiana, and it dwarfs the New Orleans Superdome. The company’s $1.1 billion, fully vertically integrated facility spans 2.4 million square feet, or about 11 times the size of the stadium’s main arena.
The factory began production quietly in July, a few months ahead of schedule, and employs more than 700 people. First Solar expects that number to hit 826 by the end of the year. Once it’s fully online, the site will add 3.5 GW of annual manufacturing capacity. That brings the company’s total US footprint to 14 GW in 2026 and 17.7 GW in 2027, when its newly announced South Carolina plant is anticipated to come online.
The Louisiana plant produces First Solar’s Series 7 modules using US-made materials — glass from Illinois and Ohio, and steel from Mississippi, which is fabricated into backrails in Louisiana.
The new factory leans heavily on AI, from computer vision that spots defects on the line to deep learning tools that help technicians make real‑time adjustments.
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Louisiana Governor Jeff Landry says the investment is already a win for the region, bringing in “hundreds of good-paying jobs and new opportunities for Louisiana workers and businesses.” A new economic impact analysis from the University of Louisiana at Lafayette projects that the factory will boost Iberia Parish’s GDP by 4.4% in its first full year at capacity. The average manufacturing compensation package comes in at around $90,000, more than triple the parish’s per capita income.
First Solar CEO Mark Widmar framed the new facility as a major step for US clean energy manufacturing: “By competitively producing energy technology in America with American materials, while creating American jobs, we’re demonstrating that US reindustrialization isn’t just a thesis, it’s an operating reality.”
This site joins what’s already the largest solar manufacturing and R&D footprint in the Western Hemisphere: three factories in Ohio, one in Alabama, and R&D centers in Ohio and California. Just last week, First Solar announced a new production line in Gaffney, South Carolina, to onshore more Series 6 module work. By the end of 2026, the company expects to directly employ more than 5,500 people across the US.
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No, it’s not the new Bolt. GM’s design team previewed a new high-riding “sporty Chevrolet EV” that should be brought to life.
Is Chevy launching a new sporty EV?
This is the all-electric vehicle Chevy should sell in the US. General Motors’ design team released a series of sketches previewing a sporty new Chevy EV.
Although it kinda looks like the new 2027 Chevy Bolt EV as a higher-sitting compact crossover SUV, the design offers a fresh take on what it should have looked like.
The new Bolt is essentially a modernized version of the outgoing EUV model with a similar compact crossover silhouette. Nissan adopted a similar style with the new 2026 LEAF as buyers continue shifting from smaller sedans and hatchbacks to crossovers and SUVs.
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Will we see the sporty Chevy EV in real life? It’s not likely. For one, the “exploration sketch” is by GM China Advanced designer Charles Huang.
GM Design posted the sketches on its global social media page, but the caption read “Sporty Chevrolet EV for the China Market.”
It’s too bad. The Bolt could use a sporty sibling like an SS variant. Chevy introduced the Blazer EV SS (check out our review) for the 2026 model year, its fastest “SS” model yet. Packing up to 615 horsepower and 650 lb-ft of torque, the Chevy Blazer SS can race from 0 to 60 mph in 3.4 seconds when using Wide Open Watts (WOW) mode.
Will the Bolt be next? I wouldn’t get my hopes up. And if GM does bring the sporty Chevy EV to life, it will likely only be sold in China. Like all the fun cars these days.
The 2027 Chevy Bolt EV RS (Source: Chevrolet)
What do you think of the design? Would you buy one of these in the US? Let us know your thoughts in the comments.
While deliveries of the 2027 Bolt are set to begin in early 2026, Chevy is offering some sweet deals on its current EV lineup, including up to $4,000 off in Customer Cash and 0% APR financing for 60 months.
Ready to test drive one? You can use our links below to find Chevy Equinox, Blazer, and Silverado EVs at a dealership near you.
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss electricity becoming the base currency, Tesla Robotaxi crashes, the new Porsche Cayenne EV, and more.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:
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