Wind Energy – Investment South Korea
On behalf of Copenhagen Infrastructure Partners (CIP), Managing Partner Jacob Baruël Poulsen on June 21, 2023, signed an Investment Notification Form in the presence of the Republic of Korea’s President Yoon Suk-Yeol committing to investments of USD 350 million into offshore wind projects in Korea.
The investments from CIP’s Flagship funds will support the development and construction of GW-scale offshore wind projects in Korea, where CIP since 2018 has been developing offshore wind projects and secured Electricity Business License for those projects.
The projects include both fixed bottom and floating offshore wind and are located in the Jeonnam Province, including Shinan County, Yeonggwang County, and the Ulsan region.
The projects will support Korea’s ambitious target of reaching 14,3GW of offshore wind power by 2030, a significant increase compared to the existing 0,1GW installed today.
Korea has vast potential for offshore wind and has pledged to achieve carbon neutrality by 2050 which will require delivery of additional large-scale renewables including offshore wind projects.
