MunmuBaram

Founded in 2019, MunmuBaram is a private headquartered in Ulsan, South Korea specializing in Wind.

MunmuBaram is a floating offshore wind power project located 65 kilometres off the coast of Ulsan, South Korea, in waters 120-150 meters deep. The project will generate 750 MW of electricity upon completion, covering an area of 160 km². Originally established as a joint venture between Shell and Hexicon AB in 2019, Hexicon AB acquired full ownership in February 2024. The project has completed Phase 1 of geotechnical investigation, received Environmental Impact Assessment approval from South Korea's Ministry of Trade, Industry, and Energy in August 2024, and signed a Transmission Service Agreement with Korea Electric Power Corporation in September 2024. MunmuBaram is expected to reduce CO2 emissions by 10.46 million tonnes annually and create long-term employment opportunities through maintenance vessel operations. The project prioritizes community engagement with local fishermen and businesses, maintaining an Approved Vendor List for South Korean suppliers across shipbuilding, materials, design, and training sectors.