Mainstream Renewable Power and Ocean Winds project secures grid connection for 1.1 GW floating offshore wind farm in South Korea

10 Oct 2024 10:50 CEST

Mainstream Renewable Power ("Mainstream"), the pureplay global wind and solar
company majority-owned by Aker Horizons ASA, announced that the joint venture KF
Wind, a floating offshore wind project being developed off the coast of Ulsan by
Ocean Winds and Mainstream, has secured a Transmission Service Agreement (TSA)
with Korea Electric Power Corporation (KEPCO) for a total of 1,125 MW of clean
power to be injected into Korea's national grid.

The agreement covers the first phase of the project, East Blue Power (375 MW)
and the second phase, KF Wind (750 MW) with the interconnection point for the
project located at KEPCO's Shinonsan onshore station in Ulsan.

Grid interconnection will enable the efficient transmission of the clean energy
generated by the KF Wind floating wind project of around 1,125 MW of installed
capacity to the mainland, ensuring a stable and reliable power supply while
maximizing the project's contribution to the overall energy grid.

KF Wind is actively making progress in the development of its sites after
achieving approval of the Environmental Impact Assessments from the Ministry of
Environment, Trade and Industry. Upon completion, the Ulsan floating offshore
wind farm cluster, which includes KF Wind and totals around 6 GW, is expected to
become the world's largest floating offshore wind area, significantly
contributing towards Korea realizing its carbon neutral targets.

ENDS

For further information, please contact:

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

Emmet Curley, Media, Mainstream Renewable Power, Tel: + 353 86 241 1690,
emmet.curley@mainstreamrp.com

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

About Aker Horizons

Aker Horizons develops green energy and green industry to accelerate the
transition to Net Zero. The company is active in renewable energy, carbon
capture and hydrogen and develops industrial-scale decarbonization projects. As
part of the Aker group, Aker Horizons applies industrial, technological and
capital markets expertise with a planet-positive purpose to drive
decarbonization globally. Aker Horizons is listed on the Oslo Stock Exchange and
headquartered in Fornebu, Norway. Across its portfolio, the company is present
on 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.
www.mainstreamrp.com

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