The Anonymous Widower

South Korea, UK Strengthen Offshore Wind Ties

The title of this post, is the same as that of this article on offshoreWIND.biz.

This is the sub-heading.

The Republic of Korea (ROK) and the UK have signed a memorandum of understanding (MoU) concerning cooperation on offshore wind energy

These three paragraphs outline the MoU.

The UK and ROK already have a proven relationship in offshore wind, with large-scale investments in the UK’s supply chain and in the development of ROK’s offshore wind sector.

This MoU emphasises the will to build on this existing cooperation to accelerate deployment, address barriers to trade, and encourage mutual economic development through regular government-to-government dialogue and business-to-business cooperation, according to the partners.

The participants will support the UK and ROK’s offshore wind deployment by sharing experience and expertise from their respective sectors.

These are my thoughts.

The British And The Koreans Have A Long Record Of Industrial Co-operation

My own experience of this, goes back to the last century, where one of the biggest export markets for Artemis; the project management system, that I wrote was South Korea.

We had started with Hyundai in Saudi Arabia, where the Korean company was providing labour for large projects.

I can remember modifying Artemis, so that it handled the Korean won, which in those days,  came with lots of noughts.

The Korean, who managed their Saudi projects returned home and luckily for us, wanted a system in Korea.

Paul, who was our salesman for Korea, used to tell a story about selling in Korea.

Our Korean friend from Hyundai had setup a demonstration of Artemis with all the major corporations or chaebols in Korea.

Paul finished the demonstration and then asked if there were any questions.

There was only one question and it was translated as “Can we see the contract?”

So Paul handed out perhaps a dozen contracts.

Immediately, after a quick read, the attendees at the meeting, started to sign the contracts and give them back.

Paul asked our friendly Korean, what was going on and got the reply. “If it’s good enough for Hyundai, it’s good enough for my company!”

The King Played His Part

King Charles, London and the UK government certainly laid on a first class state visit and by his references in his speech the King certainly said the right things.

I always wonder, how much the Royal Family is worth to business deals, but I suspect in some countries it helps a lot.

With Artemis, we won two Queen’s Awards for Industry. Every year the monarch puts on a reception to which each company or organisation can send three representatives. I recounted my visit in The Day I Met the Queen.

For the second award, I suggested that we send Pat, who was the highest American, in the company.

Later in his career with the company, when he was running our US operations, Pat. found talking about the time, he met the Queen and Prince Philip, very good for doing business.

I wonder how many business and cooperation deals between the UK and Korea, will be revealed in the coming months.

This Deal Is Not Just About The UK And Korea

This paragraph widens out the deal.

In addition, participants accept to promote business activities and facilitate opportunities for UK and ROK companies to collaborate in ROK and the UK, as well as joint offshore wind projects in third countries, according to the press release from the UK Government.

An approach to some countries without the usual bullies of this world may offer advantages.

Has One Secondary Deal Already Been Signed?

This paragraph talks about a recent deal between BP, Dutch company; Corio and the South Koreans.

The news follows the recent announcement from South Korea’s Ministry of Trade, Industry and Energy that two UK companies, Corio Generation and BP, submitted investment plans for offshore wind projects in South Korea totalling about EUR 1.06 billion.

This deal was apparently signed during the state visit.

There’s A Lot Of Wind Power To Be Harvested

These last two paragraphs summarise the wind potentials of the UK and Korea.

The UK has the world’s second-largest installed offshore wind capacity, with a government target to more than triple this capacity by 2030 to 50 GW, including 5 GW of floating offshore wind.

Back in 2018, the South Korean Government set a 2030 offshore wind target of 12 GW in its Renewable Energy 3020 Implementation Plan, which was reaffirmed by the now-former South Korea’s president Moon Jae-in in 2020. Since 2022, it has been reported that the country has a target of reaching 14.3 GW of offshore wind power by 2030.

Note that the UK’s population is almost exactly 30 % bigger than Korea’s.

So why will the UK by 2030, be generating three-and-half times the offshore wind power, than Korea?

Twenty days ago, I wrote UK And Germany Boost Offshore Renewables Ties, where I believe the sub-plot is about long-term power and energy security for the UK and Germany.

Long term, the numbers tell me, that UK and Irish seas will be Europe’s major powerhouse.

Australia’s Offshore Wind Market Could Significantly Benefit from Collaboration with UK Suppliers, Study Says

The title of this section, is the same as that of this article on offshoreWIND.biz.

This is the sub-heading.

A new study has been launched that highlights significant opportunities for the UK to share its wind farm expertise with Australia’s emerging offshore wind market

These three paragraphs outline the study.

The Australian Offshore Wind Market Study, conducted by Arup, evaluates potential Australian offshore wind markets and analyses the strengths, weaknesses, and opportunities for UK support.

Key findings indicate that the Australian offshore wind market could “substantially” benefit from collaboration with the UK suppliers, given the UK’s 23 years of experience and its status as the second largest offshore wind market globally, boasting 13.9 GW of installed capacity as of 2023, according to the UK Government.

Currently, Australia has over 40 offshore wind projects proposed for development.

I believe that the Australians could be a partner in the deal between the UK and Korea, as all three countries have similar objectives.

Conclusion

The Korean and German deals. and a possible Australian deal should be considered together.

Each country have their strengths and together with a few friends, they can help change the world’s power generation for the better.

• Just as the UK can be Europe’s powerhouse, Australia can do a similar job for South-East Asia.
• Any country with lots of energy can supply the green steel needed for wind turbine floats and foundations.

I would have felt the Dutch would have been next to join, as their electricity network is solidly connected to the UK and Germany. But after this week’s Dutch election, who knows what the Dutch will do?

November 24, 2023 - Posted by AnonW | Business, Energy | Artemis, BP, Corio Generation, Floating Wind Power, Germany, Hyundai, King Charles III, Korea, Offshore Wind Power, Project Management, Queen Elizabeth, Saudi Arabia, The Netherlands, Wind Power