Mainstream Renewable Power and Ocean Winds project awarded its Environmental Impact Assessment for 1.1 GW floating offshore wind farm in South Korea

29 Aug 2024 09:00 CEST

Mainstream Renewable Power ("Mainstream"), the pureplay global wind and solar
company majority-owned by Aker Horizons ASA, announced that joint the joint
venture KF Wind, a 1,125 MW floating offshore wind project being developed off
the coast of Ulsan and owned by Mainstream (33.3%) and Ocean Winds (66.7 %), has
secured the Environmental Impact Assessment (EIA) approval from the Ministry of
Environment for the totality of the two-phase project. Award of the EIA is a key
milestone for the development of the two-phase floating offshore wind project,
advancing towards construction.

The EIA has been achieved after more than 12 months of an onsite monitoring
campaign and several rounds of consultations with local communities, key local
stakeholders and fisheries. The EIA approval focused on the application of the
highest environmental standards, incorporating the valuable experience of KF
Wind's sponsors, Ocean Winds and Mainstream Renewable Power.

The EIA comprises the first phase, East Blue Power, of 375 MW and the second
phase, KF Wind, of 750 MW. The scope includes 75 turbines and floating
foundations, two bottom fixed offshore substations, three submarine export
cables of 80 kilometers each, one onshore substation and the onshore high
voltage line of 4.5 kilometers until the interconnection point at Korea Electric
Power Corporation (KEPCO)'s Shinonsan onshore substation.

For further information, please contact:

Stian Andreassen, Investor Relations, Tel: +47 41 64 31 07,
stian.andreassen@akerhorizons.com

Niamh McGrath, Media, Mainstream Renewable Power, Tel: +353 87 641
6831, niamh.mcgrath@mainstreamrp.com

Mats Ektvedt, Media, Tel: +47 41 42 33 28,
mats.ektvedt@corporatecommunications.no

About Aker Horizons

Aker Horizons develops green industrial projects and technologies that
accelerate the net zero transition. The company holds assets across renewable
energy and carbon capture, and develops green industrial hubs that combine low
-cost renewable energy with hydrogen production and downstream applications. As
part of the Aker group and its 180-year industrial heritage, Aker Horizons
applies industrial, technological and capital markets expertise to solve
fundamental challenges to sustainable existence. Aker Horizons is listed on the
Oslo Stock Exchange and headquartered in Fornebu, Norway. Through its portfolio
companies, Aker Horizons employs over 1,200 people across 18 countries and five
continents. www.akerhorizons.com

About Mainstream Renewable Power

Mainstream Renewable Power is a leading pure-play renewable energy company with
wind and solar assets across Europe, Latin America, Africa, and Asia-Pacific.
Mainstream is one of the most successful developers of gigawatt-scale renewables
platforms, across onshore wind, offshore wind, and solar power generation. The
company has successfully delivered 6.6 GW of wind and solar generation assets to
financial close-ready and has a global project portfolio of over 23.8 GW.

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