Posco E&C Signs Basic Design Deal with Equinor for Ulsan Offshore Wind Project; Shares Decline 3%

MT Newswires Live

2025/06/02

Posco (KRX:005490) subsidiary Posco E&C signed a front-end engineering design (FEED) contract with Norway-based energy company Equinor for the Ulsan Firefly offshore wind power project, a 750-megawatt floating wind farm situated 70 kilometers off Ulsan Port.

This agreement builds on the preferred supplier agreement signed in November 2024 that sets the stage for a future engineering, procurement, and construction contract, Posco said in a Thursday release.

Posco E&C will design key infrastructure, including coastal access, cable tunnels, transmission lines, and substations, it said.

Shares of the South Korean steelmaker fell more than 3% in recent trade on Monday.

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