Services Supporting Wind Energy in South Korea by ERM Korea

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Services Supporting Wind Energy in South Korea

About ERM Sustainability is our business. We are the world’s largest pure play sustainability consultancy. Founded in 1971, we are the largest advisory firm in the world focusing solely on sustainability, offering unparalleled depth and breadth of expertise. We shape a sustainable future with the world’s leading organizations. Our purpose guides everything we do. We create a better future by helping the world’s biggest brands address today’s sustainability imperatives. We are the recognized market leader in sustainability services. Numerous industry benchmarks attest to our market leadership and the majority of our work is sole-sourced, reflecting trusted partnerships we build with our clients. solutions that advance objectives on the ground or at the executive level. ERM OVERVIEW

8000+

Professionals

40 Countries & territories

Climate change consulting Leader Verdantix Green Quadrant 2023

150+

50+

We partner with…

70%

55%

Offices

Years of experience

of Fortune 100 2

Sustainability service provider – HFS 2022

of Fortune 500

Services Supporting Wind Energy in South Korea

About ERM Korea

The ERM South Korea office in Seoul has an experienced team of specialist consultants who are dedicated to providing a full range of services to the power sector industries. South Korea has seen a rapid increase in renewable energy projects, in particular offshore wind. Over the last few years, ERM has participated in the site selection and ESIA services for several onshore and offshore wind projects, which has enabled us to build experience, capacity and a vast environmental and social database.

60 + 1999 Opened in

Our strong team are bilingual, familiar with local regulatory requirements and international standards and have extensive knowledge and experiences of sustainability issues faced in today’s business environment. Working along side ERM’s global network of 8,000+ world-class experts in more than 39 countries and decades of experience working with prominent conglomerates, multinational corporations, and government institutions, we are well positioned to help clients keep abreast of the latest environmental trends and shape sustainability strategies to build competitive advantage.

70 + Professionals

ERM Korea supports South Korean conglomerates managing sustainability challenges in their overseas projects; in developing sustainability strategies and compliance assurance programs for their global operations; by drawing on the expertise of ERM's global network to help our South Korean Clients to understanding and manage sustainability challenges in whichever territory they operate. ERM's team of South Korean and international professionals based in Seoul are ideally suited to helping our global Clients to successfully navigate the South Korean business environment. ERM provides an unrivalled service offering for both local and international companies within the Korean peninsula. 3

Services Supporting Wind Energy in South Korea

Our History ERL FOUNDED

1977 ERM FOUNDED IN THE US

1971 Founded in the UK

1987  ERL operations in the UK, Hong Kong, Italy and Bahrain  ERL merged with ERM 1999 Offices open in South Korea

1970s

EXPANSION

MANAGEMENT BUYOUT

2001  Venture capitalists 3i supported the management buyout  Acquired Ecobe in South Africa and the US environmental management information systems consultancy Enverdant  Offices open in Canada and South Africa

NEW PARTNERS

2005  Bridgepoint Capital bought 3i Group’s equity stake  Offices open in Russia and the United Arab Emirates 2006 Offices open in New Zealand 2008 Offices open in Panama 2010 Released new strategy - One Planet. One Company. ERM 2011 Charterhouse Capital Partners replaced Bridgepoint Capital as our private equity partner

AQUISITIONS

2010 - 2023  IRC, Houston based risk consultancy  OASIS Environmental, Inc. an environmental services company  Rescan, a privately, Canadian-owned, environmental consulting firm  Zer01 Pty Ltd (Zer01) sustainability and health, safety and environmental assets of private Australia-based information solutions consulting firm  Natural Resource Group (NRG), a Minneapolis-based environmental consultancy  Safety Design A.S.,a Norwegian risk management consultancy based in Kristiansand, Norway  rePlan Inc., a Toronto-based company that provides social assessment, advisory and management services  JSC International, a regulatory affairs consultancy based in Harrogate in the UK  Pacific Environment Consulting and DLA,; Michael Pisani & Associates, Inc. (MP&A) BrownFlynn, Ltd., a corporate sustainability and governance consulting business  Kathy Jones and Associates Pty Ltd (KJA), specialists in stakeholder engagement and communication consultancies based in Sydney and Melbourne, Australia  SustainAbility Ltd., advisory firm that inspires business to lead the way to a sustainable economy  CSA Global, a mining consultancy firm based in Perth, Western Australia  Contek Solutions LLC, a safety and environmental engineering company located in Plano, Texas  The Fifth Business, an integrated change management, communications, learning and design consultancy firm with office in Europe and North America 2020  Critical Resource, Ltd., sustainability advisory company providing expertise in assessing stakeholder, political and ESG (environmental, social and governance) risks for the mining and energy industry  M.J.Bradley & Associates, energy, climate change and sustainability advisory 2021  Arcus Consultancy Services, Ltd., renewable energy consultancy  Engineering Safety Consultants, global functional safety management and engineering consultancy  First Option Safety Group, health and safety business serving the media and entertainment sector  Sustainalize, sustainability consulting firm  E4tech, energy and sustainability strategy consultancy specializing in low-carbon technologies  Element Energy, specialist energy consultancy focusing on implementing integrated lowcarbon technology solutions  The Renewables Consulting Group (RCG), global market intelligence, management consulting, and technical advisory firm  Stratos, Canada’s leading management consultancies focusing on ESG and sustainability  OPEX Group, AI and data science solutions provider helping carbon intensive industries to reduce emissions 2022  Point Advisory, Australian climate change and sustainability consultancy offering strategic and technical advice to businesses  MarineSpace, marine environment consultancy that advises clients on their largest and most complex marine development projects  Shelton Group, marketing communications agency based in the United States and focused exclusively on sustainability  Libryo, automated and cloud-based platform that helps organisations know the law that applies to their business, in every jurisdiction 2023  Coho, global climate adviser dedicated to helping clients navigate complexity and take ambitious steps on their climate journey  NINT, consultancy in Latin America focused on sustainable finance and ESG advisory for financial institutions, corporations, civil society and public sector organizations

NEW PARTNERS

2015 ERM partners with OMERS Private Equity (OPE) the private equity investment arm of the OMERS pension plan, to buy-out ERM in an off market bi-lateral process, from Charterhouse Capital Partners. The Alberta Investment Management Corporation (AIMCo) co-invested in the transaction

LONG TERM INVESTMENT 2021 KKR, a leading global investment firm, acquires majority position in ERM with ERM’s management team and Partners remaining as minority investors

Services Supporting Wind Energy in South Korea

ERM’s Recent acquisitions related to offshore wind

E4tech is an energy and sustainability strategy consultancy working internationally with a wide range of organizations to maximize opportunities in the clean energy transition.

RCG is an integrated market intelligence, management consulting and technical advisory firm with its roots firmly in the global renewable energy industry.

Element Energy is a specialist energy consultancy, providing rigorous and insightful analysis in the area of low and zero carbon energy – consulting on both technical and strategic issues, and covering all major low carbon energy sectors.

Arcus is a multi-disciplinary consultancy, specializing in high profile and potentially sensitive renewable energy developments – working across all stages of a development, from site selection and feasibility through to construction.

The acquisitions Have added 200+ consultants to our global team

MarineSpace is marine environment consultancy that advises clients on their largest and most complex marine development projects.

Services Supporting Wind Energy in South Korea

Experience in South Korea Over 5 GW of Offshore Wind ESIAs

3 3 11 6

13 8

1 4 3 4

9 10 2

2 3

2 3 4 8

Services Supporting Wind Energy in South Korea

6 7 12 2 5 7

Experience in South Korea 10 +

Confidential Client (2020), one (1) area in South Jeolla Province.

11 +

Confidential Client (2021), three (3) potential sites for offshore development off Incheon coast.

+ 12

Confidential Client (2021), three (3) potential sites for offshore development off Ulsan coast.

+ 13

Confidential Client (2023), Environmental and social gap analysis for 530 MW fixed bottom offshore wind farm off the coast of Yeonggwang-gun

Environmental and Social Impact Assessment + 1

Confidential Client (2021-2022), Critical Habitat Assessment and Marine Bird Survey, Alternative Assessment, Cumulative Impact Assessment, Climate Change Risk Screening, Noise Impact Assessment, Environmental and Social Management Plan and Decommissioning Management Plan for a 96 MW fixed bottom offshore wind farm in Shinan.

Munmubaram (2021-Ongoing), 1.4 GW floating offshore wind farm off coast of Ulsan.

Jeonnam Offshore Wind Power Phase II (2021-Ongoing), 400 MW offshore wind farm.

Jeonnam Offshore Wind Power Phase III (2021Ongoing), 400 MW offshore wind farm.

Confidential Client (2022 – Ongoing), 1.5 GW floating offshore wind farm off coast of Ulsan.

Confidential Client (2022 – Ongoing), 1.6 GW fixed bottom offshore wind farm off coast of Incheon.

Confidential Client (2022 – Ongoing) 1.6 GW floating offshore wind farm off coast of Ulsan

Confidential Client (2023 – Ongoing), 530 MW fixed bottom offshore wind farm off the coast of Yeonggwang-gun

Environmental and Social Constraint Studies/ Red Flag + 1

Confidential Client (2019) - two (2) potential sites for onshore wind farm.

+ 2

Confidential Client (2019) 500 MW offshore wind farm in Jeollanam-Province, South Korea.

+ 3

Confidential Client (2019), Southwestern Coast of South Korea for potential offshore wind farm developments. Confidential Client (2019), entire southern coast of South Korea.

4 + + 5

+ 6

+ 7

Confidential Client (2019), three (3) proposed locations for floating offshore wind farm development in Ulsan area of South Korea. Confidential Client (2020), three (3) potential sites and connection corridor for submarine cables on proposed floating offshore wind farm development in Ulsan area of South Korea.

Feasibility Study in Collaboration with RCG Consulting, an ERM Group Company 1

Confidential Client (2021), offshore wind power development in South Jeolla Province.

Environmental and Social Due Diligence + 1

GL Garrad Hassan (2002) 60 MW Yeong Yang Onshore Wind Farm Site.

+ 2

Confidential Client (2018), 40 MW offshore wind farm development in Busan area.

+ 3

Confidential Client (2019), 21 MW onshore wind farm development at Gangwon-Province, South Korea.

Confidential Client (2021) IFC PS and EP4 based Lender Environmental and Social Due Diligence for a 96 MW fixed bottom offshore windfarm development at Sinan.

+ 5

Confidential Client (2022), 27 MW Onshore Wind Power Project in Gangwon Province.

Social Studies 1

Confidential Client (2021), Socio-Economic impact research of the effects of developing the Offshore Wind Power projects off Ulsan coast. ERM collaborated with Professor Hyomin Kim of the Ulsan National Institute of Science and Technology (UNIST), and Dr Jone Oh, the Chief Executive Officer of Blue Wind Engineering.

Confidential Client (2022) Stakeholders Engagement support for 200 MW offshore wind power project off Busan Coast.

Confidential Client (2022) Stakeholder identification and mapping exercise for 200 MW fixed bottom offshore wind power project off Busan Coast.

Confidential Client (2020), two (2) floating offshore wind farms and transmission cable connection in Ulsan area of South Korea.

Other Studies

+ 8

Confidential Client (2020), entire southern coast of South Korea (including Jeju island).

+ 1

Siemens Gamesa Renewable Energy (2018), Developed a Legal Register for entire life cycle.

Confidential Client (2020), two (2) potential offshore development sites in South Jeolla Province.

+ 2

Vestas LR Development and EHS Audit (2000), Legal Register and EHS audits since 2000s.

+ 3

Confidential Client (2022). Support for preparation of tender material and evaluation of proposals for EIA scope of work for a 1.6 GW Offshore Fixed Bottom Wind Power Project off Incheon coast.

Services Supporting Wind Energy in South Korea

Project Site Screening Constraint mapping techniques have long been used in site selection studies to bring together environmental, social, planning, and physical considerations into an overall assessment. This is achieved through the collation of layers of mapped information that display the features and constraints of an area to produce multi-layered constraint maps, which form the basis of evaluation for any unconstrained areas.

ERM has developed an extensive database of environmental and social baseline data for South Korea through our work in supporting a number of onshore and offshore wind farm developments.

Constraint mapping provides a means to take account of any physical incompatibilities and potentially damaging environmental and/or social impacts in a structured and rigorous manner, through the use of the capabilities of GIS mapping.

+ Military and Aerial Restricted Areas;

Information on over 100 different features have been collected by ERM and grouped in to seven (7) main categories:

+ Shipping and Vessel Operation; + Protected Areas and Biodiversity; + Fisheries; + Cultural Heritage; + Landscape and Recreational Areas; + Other Physical Constraints.

Firing and Bombing Exercise Area

Legend Firing and Bombing Excercise Areas Agency for Defence Development Training Zone

Air Force Training Zone

Drawing No: Example

Army Training Zone

Date:

Coastguard Training Zone Navy Training Zone

15/04/2020

Drawn By: MS

Drawing No: Example Drawing Size: 16x24.7cm Reviewed By: CAR

Coordinate System: WGS 1984 UTM Zone 52N 0

100km

Services Supporting Wind Energy in South Korea

Client: Example This figure may be based on third party data or data which has not been verified by ERM and it may not be to scale. Unless expressly agreed otherwise, this figure is intended as a guide only and ERM does not warrant its accuracy.

Environmental and Social Due Diligence Environmental and Social Due Diligence (ESDD) Our due diligence services help clients to enhance their mergers, acquisitions, and financing by ensuring that any environmental, health, safety, and sustainability issues and opportunities are accurately disclosed and anticipated. This protects their bottom line by creating more transparency around their potential liabilities. ERM has an unrivalled track record in supporting time-sensitive, multilocation due diligence efforts. We identify, quantify, and prioritize current, contingent, and future EHSS exposures. By using probabilistic modeling for large sites or portfolios with a large numbers of assets, we are able to provide investors with realistic

on the cost, timing, and cash flow implications of potential liabilities. Our experience allows us to anticipate and proactively address such issues before transaction timelines are impacted. ERM can identify any strengths and opportunities that may be able to enhance the sales process and value of a divestment.

ERM believes that through our operations in South Korea and our thorough understanding of the status of local environmental regulations related challenges and trends, we are able to apply our knowledge to assist our Clients to identify their liabilities and develop solutions that meet their needs.

Services Supporting Wind Energy in South Korea

Legal and Permit Register Understanding the local permitting requirements for a development is essential for its success. With our depth of experience and extensive local team based in Seoul, ERM is able to provide support in understanding such requirements. ERM is able to develop project specific legal and permit registers, and/or legal and permit registers for wider operations across the whole of South Korea, and can provide ongoing updates and advisory support on EHS regulatory matters throughout the lifecycle of a Project.

Support on the Tendering Process The scope of the services provided by ERM South Korea focus on international projects, and as such, ERM South Korea has decided not to acquire a national licence to conduct the Local EIA. ERM South Korea is nevertheless able to provide local technical E&S support to our Clients in preparation of the tender process for the selection of local regulatory EIA consultants. ERM is able to develop Project tailored tender documents/requests for proposals based on our experience in the energy sector and our detailed Project knowledge that we have acquired during previous site Selection activities. ERM can then provide technical advisory during the bidding process including: 1. Preparation of Local EIA Tender Documentation; 2. Identification of Local EIA consultants 3. Reviewing Expressions of Interest and supporting the shortlisting of interested parties; 4. Technical Review of the submitted proposals with a focus on E&S capability, experience, and credentials 5. Technical review and support of the contracting process during clarifications 6. Support during interviews and the final selection process

Services Supporting Wind Energy in South Korea

Communication with Lenders Early communication with lender groups is considered to be vital. ERM has established its reputation with major international lenders by showcasing our expertise while working on multiple national and international projects. Additionally, ERM is able to offer support to Clients when responding to the lender’s environmental and social consultants during the Environment and Social Due Diligence process.

Stakeholder Engagement Plan Stakeholder engagement is a determinant of a Project‘s success or failure. In South Korea, the local requirements specified in the EIA laws are minimal and often result in a vague and disingenuous approach to stakeholder engagement with limited transparency and/or lack of documentation/formal records. Increasingly in South Korea, the Ministry of Environment, Civil Society Organisations and Non-Governmental Organisations, are demanding a higher degree of engagement, transparency, and disclosure. As a result of years of experience in performing Stakeholder Engagements, ERM is able to enhance Local EIA engagement strategies to comply with international standards.

ERM can offer support by: + Designing, managing and reviewing engagement processes; + Developing stakeholder engagement strategies, policies and guidelines; + Undertaking stakeholder profiling and analysis exercises as well as developing and managing complex interactive stakeholder databases; + Drafting and reviewing public disclosure and consultation plans; + Providing project related personnel training for stakeholder engagement; + Managing conflict and resolving disputes through mediation processes; and + Designing, managing and facilitating a wide range of interactive activities and events.

Services Supporting Wind Energy in South Korea

ESIA Report Development Local EIA consultants generally do not have much experience with the standards of the international ESIA. Subsequently, large scale wind developments in Korea are likely present new challenges to local EIA consultants. ERM is able to utilize its international experience to fill the gap between the requirements of a Local EIA and the selected Lenders’ Applicable Standards.

Management Plan Development The Korean Environmental Impact Assessment Act stipulates the establishment of Post-EIA Monitoring Program. ERM can translate the commitments described in the EIA into detailed Construction/Operation Environmental and Social Management Plans (CESMPs or OESMPs), which will ensure that the required mitigation measures and monitoring plans are conducted in a clear and timely manner. Such Management Plans will be drafted so that they meet the standards of the international lenders. The plans will include performance monitoring mechanisms and audit/inspection programs with corrective action procedures to ensure implementation of ESIA commitments and the continuous improvement of the environmental and social performance of the Projects.

ERM has an extensive pool of Regional and Global Subject Matter Experts who are able to provide specialized insight on matters pertaining to wind power specific knowledge, marine mammals, birds, fisheries, social impact assessment, cumulative impact assessment, etc., that also have experience working on wind projects.

In addition, ERM is able to provide: + Technical advisory/review role in forming the Engineering Procurement Construction (EPC) contract to ensure that all elements of the CESMP are captured; + Training the Client and EPC personnel on the management plans; and + Performing external audits or environmental and social performance monitoring exercises.

Services Supporting Wind Energy in South Korea

Digital systems & solutions ERM’s digital backbone supports clients along their decarbonization journey

At the heart of our forecasting, modelling and research is the Global Renewable Infrastructure Project (GRIP) digital data hub. The authoritative source for essential offshore wind industry information.

REALISE is our proven workflow for renewable energy project value realisation. From prefeasibility market assessment to optimised site selection.

Services Supporting Wind Energy in South Korea

Climate Risk, Impacts and Solutions Platform - a solution for assessing physical risks to our clients' assets.

LEnS is our tool to assess project competitiveness for clients, in the context of an increasingly competitive market - at its heart is proprietary levelized cost of energy modelling.

Experience navigating all the decision gateways

The client wished to Developing longterm global offshore understand the regulatory framework wind strategy and market assessment. in Spain for offshore wind and the most Market entry and promising exploration development areas. Conducted a services in Asia. market entry and screening study.

ESIA for wind farm in Djibouti, supported by specialist scientific studies to focus the impact assessment on potentially significant E&S issues associated with the project.

Floating wind advisory, project feasibility and site selection, and LCoE analysis.

ERM performed an H&S regulatory review and compliance assessment for a 288 MW offshore wind farm in the German North Sea.

Development application for a 100 MW solar facility in Australia. Biodiversity assessment, glare and visual assessment, and permitting and approval process.

Supported battery siting analysis and permitting for various locations across the US. Involved developing detailed GIS datasets, constraints analyses and permit pathways.

Reviewed the HSE risks associated with potential technologies to be used in decommissioning of several offshore wind meteorological monitoring masts in North-Western Europe.

Provided lifecycle carbon assessments for naturebased biofuels in Hawaii. This involved assessing direct emissions, as well as sequestration rates, for growth crop.

Operation

Lenders' Technical Advisor and construction monitoring for a 40 MW solar project in Alberta, Canada.

Managing construction phase for nearshore wind project in Vietnam as project director on behalf of the sponsor.

Development

Early Stage

Go-to-market, custom research, due diligence (TDD), and technical advisory for the client’s business in Asia Pacific.

Support to development of a solar plants in Italy in line with local procedures to gain environmental compatibility decree, construction permit and operation permit.

Construction

Following a natural disaster, ERM provided environmental compliance monitoring services during restoration/ construction of a wind farm in California.

Global Insurer's Engineer for AXIS Capital – one of world's largest insurers of renewables assets – risk surveys, and complex claim support.

Late Life

ERM performed reviews of activity-specific (e.g. boat landing, diving and work at height) H&S Risk Assessment and Method Statements for offshore maintenance in Germany.

Supported an acquisition process with a due diligence and repowering critical issues analysis related to the repowering of an existing wind power portfolio in the US.

Supporting alignment on HSE by working with the client to develop a consistent culture and approach to HSE management for an offshore wind farm.

Operational phase due diligence and lifeextension assessment for potential acquisition.

Services Supporting Wind Energy in South Korea

Implemented a sound environmental protection and monitoring program to see hydroelectric facility in the US through its environmental compliance transition from construction into operation.

Contact information Seung Hyun Kwak

Joseph Park

NaeYoon Kang

Country Managing Partner

Associate Partner Capital Project Delivery

Partner M&A

+82 10 3176 6231

+82 10 5119 1098 joseph.park@erm.com

+82 10 3783 9068 naeyoon.kang@erm.com

seunghyun.kwak@erm.com

Mark Watson

ERM Korea

12th floor, Samhwa Tower, 16 Eulji-ro 5-gil, Jung-gu, Seoul (04539) Tel: +82 2 714 9092 Fax: +82 2 714 9096 E-mail:info.Korea@erm.com ERM.com | ERM LinkedIn

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