The MunmuBaram project is a floating wind farm project off the south-east coast of South Korea. Hexicon is now increasing its direct ownership and buying 20 percent of the project company from the joint-venture Hexicon Korea.
Hexicon Korea, a JV between Hexicon and Korean company Coens & Co where Hexicon holds 49 percent, has up until now owned 20 percent of MunmuBaram – corresponding to an indirect ownership for Hexicon of just below 10 percent before the transaction. Hexicon is now increasing its direct ownership and buying 20 percent of the project company, the project company is owned for the remaining 80 percent by Shell Overseas Investments B.V.
