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.
Data centers powering artificial intelligence and cloud computing are pushing energy demand and production to new limits. Global electricity use could rise as much as 75% by 2050, according to the U.S. Department of Energy, with the tech industry’s AI ambitions driving much of the surge.
As leaders in the AI race push for further technological advancements and deployment, many are finding their energy needs increasingly at odds with their sustainability goals.
“A new data center that needs the same amount of electricity as say, Chicago, cannot just build its way out of the problem unless they understand their power needs,” said Mark Nelson, managing director of Radiant Energy Group. “Those power needs. Steady, straight through, 100% power, 24 hours a day, 365,” he added.
After years of focusing on renewables, major tech companies are now turning to nuclear power for its ability to provide massive energy in a more efficient and sustainable fashion.
Google, Amazon, Microsoft and Meta are among the most recognizable names exploring or investing in nuclear power projects. Driven by the energy demands of their data centers and AI models, their announcements mark the beginning of an industrywide trend.
“What we’re seeing is nuclear power has a lot of benefits,” said Michael Terrell, senior director of energy and climate at Google. “It’s a carbon-free source of electricity. It’s a source of electricity that can be always on and run all the time. And it provides tremendous economic impact.”
Watch the video above to learn why Big Tech is investing in nuclear power, the opposition they face and when their nuclear ambitions could actually become a reality.
Isuzu is giving Red Bull electrified wings – the iconic drinks company is officially the first to put the production version of its new-for-2025 Isuzu NRR-EV medium duty electric box truck to work in North America.
Deployed by Red Bull North America, these first-ever customer Isuzu NRR-EV medium duty trucks are busy delivering cans of Red Bull products throughout Southern California with zero tailpipe emissions, marking the first time the best-selling low-cab/cabover box truck brand in the US can make such a claim.
“Today marks a major milestone for the industry and for us. Watching the NRR-EV evolve from a concept to a viable operating product is a big deal,” explains Shaun Skinner, President of Isuzu Commercial Truck of America. “Our teams and our clients have put so much time and effort into making this happen, and it speaks to our teamwork and dedication to more sustainable transportation solutions. It is no longer just a plan, we have zero-emission trucks serving our customers’ needs!”
The NRR-EV is available with a number of different battery configurations, ranging from three 20 kWh battery packs (60 kWh total) up to nine 20 kWh battery packs, with five and seven pack options in between. The nine-pack version is good for up to 235 miles of range with a 19,500 lb. GVWR. The batteries, regardless of configuration, send power to a 150 kW (200 hp) electric motor with 380 lb-ft. of torque available at 0 rpm.
For “Red Bull” duty, the Isuzu trucks ship with a 100 kWh total battery capacity, and are fitted a lightweight, all-aluminum 6-bay beverage body, the vehicle’s design maintains its cargo capacity. The NRR-EV’s 19,500 lb. GVWR (Class 5) chassis, combined with the lightweight body and “big enough” battery spec provides Red Bull’s delivery drivers a hefty, 9,000 lb. payload.
Isuzu’s N-series trucks are everywhere – and for good reason. They’re dependable, they’re affordable, and they have a nationwide network of GM dealers supporting them. I am a huge fan of these trucks, and can’t wait to sample the electric version from behind the wheel.
Hyundai is gearing up to launch its first all-electric minivan. Production is set to begin next year, and the EV minivan is expected to play a key role in its global expansion. Here’s what to expect.
Hyundai will launch its first EV minivan in 2025
The Staria is Hyundai’s successor to the Starex, its multi-purpose vehicle (MPV), launched in 2021. Like its replacement, the Staria is offered in a minivan, minibus, van, pickup, and several other configurations like limousines and ambulances.
Although the Staria was launched with only diesel and gas-powered powertrain options, Hyundai added its first hybrid model in February.
Hyundai will introduce the Staria Electric, its first electric minivan, next year. In March, Hyundai unveiled its new ST1 electric business van, which is based on the Staria. However, the minivan will get its own EV model in 2025. The ST1 is Hyundai’s first commercial EV. It’s available in refrigerated van and basic chassis cab options.
Hyundai is already building gas-powered and hybrid Staria models at its Ulsan plant in Korea, but it is preparing to begin producing the EV version.
According to the Korean media outlet Newsis, sources close to the matter on Friday said Hyundai will begin converting a production line (Line 1) at its Ulsan Plant 4 for Staria Electric around January 25, 2024.
The expansion is part of Hyundai’s broader plan to introduce 21 electric vehicles by 2030, accounting for over 2 million in sales.
A report from The Korean Economic Daily in June claimed Hyundai would expand Staria EV production into Europe starting in the first half of 2026. European-made models will be sold domestically and overseas, like in Australia and Thailand. Hyundai aims to sell 15,000 to 20,000 of the EV model annually.
The Staria Electric will be powered by Hyundai’s fourth-generation 84 kWh EV batteries and will have over 10% more capacity than the ST1.
Hyundai sold 37,769 Starias through the first 11 months of 2024. Last year, Hyundai Staria sales reached 39,780, including domestic and export sales. By the end of the year, Staria sales are expected to exceed 40,000 for the first time.
Hyundai’s sister company also has big plans to expand its commercial business with a new lineup of EVs based on its PBV (Platform Beyond Vehicle). Its first electric van, the PV5, was spotted earlier this year as a potential Volkswagen ID.Buzz challenger.
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