New Multi-Gigawatt Offshore Wind Project Planned in South Korea

HD Hyundai Electric signed a memorandum of understanding (MoU) with Pacifico Energy Korea, CS Wind, Korea Ocean Engineering & Consultants, and Daebul Shipbuilding at HD Hyundai on October 30 to jointly develop an offshore wind farm development in Jindo-gun, Jeollanam-do.

The project is to build a 3.2GW(gigawatt) offshore wind farm consisting of three power generation complexes off the coast of Jindo-gun, Jeollanam-do, located in the southwest of South Korea. It is enough to supply electricity to 3 million households with a total cost of 19 trillion won.

The participating companies agreed to strengthen the cooperation system to complete the project successfully.

Pacifico Energy will be in charge of equity investment and overall business development, and HD Hyundai Electric will supply wind turbines and power equipment for offshore substations. They also shared their roles in wind towers and substructures, submarine cable installation, and maintenance.

The South Korean government actively promotes offshore wind power projects to achieve 2050 carbon neutrality and 2030 Nationally Determined Contribution (NDC). It has announced that it will expand the deployment of offshore wind power facilities in South Korea to 26.7 GW by 2036.