MunmuBaram Signs MoU with Ulsan GPS for Long-Term REC Offtake

Written By Jieun Myoung

(August 17th, 2023) MunmuBaram signed a non-binding Memorandum of Understanding (MoU) with Ulsan GPS for long-term offtake of Renewable Energy Certificates (RECs).

Under this MOU, MunmuBaram and Ulsan GPS will mutually cooperate to promote a long-term strategic partnership through Ulsan GPS’ long-term offtake of RECs produced from 1.2GW MunmuBaram floating offshore wind project (subject to future investment decisions). Ulsan GPS, subsidiary of SK Gas, is currently building a LNG·LPG combined cycle power plant in Ulsan with a total power generation capacity of 1,122MW.

Jieun Myoung
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