Wind Energy – South Korea
Jeonnam 1 – a 99-MW offshore wind farm off the coast of Shinan County, Jeonnam Province in the southwest of Korea – reached financial close in early 2023.
The project is on track with construction activities and is expected to reach completion by the end of 2024.
Jeonnam 1 is a joint venture between SK E&S, one of the largest conglomerates in South Korea and Copenhagen Infrastructure Partners (CIP).
The project has been developed by a joint team comprised by Copenhagen Offshore Partners (COP), a global leader in offshore wind development and construction and the exclusive offshore wind development partner to CIP, and SK E&S.
Jeonnam Offshore Wind Power was founded in 2020 and is expected to become the first Korean commercial scale offshore wind farm to go into operation in 2024. The project is a 51-49 joint venture between SK E&S and Copenhagen Infrastructure Partners (CIP).
In association with SK E&S and CIP, COP will also be involved in the planning and construction for Jeonnam 2 and Jeonnam 3, two offshore wind projects with a total capacity of 800MW currently in the development phase.
Jeonnam 1, 2 and 3 will support Korea’s ambitious target of reaching 14.3 GW of offshore wind power by 2030, a significant increase compared to the existing 0.1GW installed today.
