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Equinor, Korea National Oil Corporation and Korea East-West Power have formed a consortium for the project
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The companies aim to start producing and exporting wave power by 2024
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Danske Commodities is owned by energy giants Equinor and Masdar
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They will combine their offshore wind assets and project pipeline, starting with a total capacity of 1.5GW under construction and 4GW under development
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Projects should aim to significantly reduce costs over the long term
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The group will meet regularly with the aim of providing a vision for large-scale deployment of floating wind farms in the UK
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A full-scale floating turbine is expected to be deployed at a test site by 2022
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Different technological solutions will be tested, with the goal of deploying them on a larger scale
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It has partnered with Korea National Oil Corporation (KNOC) to jointly explore opportunities
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The project is expected to help deliver significant cost savings compared to existing floating wind concepts
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Located in Scotland, the test and demonstration project will have a total capacity of 50MW
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The industry is currently at an early stage of development – there are two operational test and demonstration scale projects in Scotland
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