bp and Deep Wind Offshore have formed a joint venture to develop offshore wind opportunities in South Korea.As part of their agreement, bp has acquired a 55% stake in Deep Wind Offshore’s early-stage offshore wind portfolio, which includes four projects across the Korean peninsula with a potential generating capacity of up to 6GW. The permitting process for the four projects is already underway having installed wind measurement devices during 2021 and 2022. bp and Deep Wind Offshore will now look to install additional wind measurement systems and secure electricity business licenses in the coming period.
