By Giulia Petroni

Total SE said Tuesday that it partnered with Macquarie Group Ltd.'s Green Investment Group to develop a portfolio of five floating offshore wind projects in South Korea with a potential cumulated capacity of more than two gigawatts.

The energy major said the first project of around 500 megawatts is aimed to be launched by the end of 2023. The projects will be located off the eastern and southern coasts of the country.

South Korea "has a significant potential for the development of a floating offshore wind segment benefiting from a strong governmental support and a unique set of local competencies," Total said.

The 50/50 partnership, which is subject to approvals and the satisfaction of other conditions, will become effective in the fall.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

September 01, 2020 03:09 ET (07:09 GMT)

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