Wind Energy – South Korea
Ørsted managed to receive an EBL (Electric Business License) for the Incheon Marine Wind Power No. 1-2 development project offshore South Korea.
Incheon Offshore Wind Farm is a project 1,6 GW (two x 804 MW) capacity and is located 70 km offshore Incheon.
The license grants us exclusive development rights for our gigawatt-scale Incheon offshore wind project, which is set to become the largest in Korea on completion – and which will contribute to the country’s goal of being carbon-neutral by 2050.
This is the largest offshore wind power capacity (804 MW) that has been approved so far in the Korean offshore wind permitting process.
Next steps for the project include environmental impact assessments, site investigations, and preparations for participating in Korea’s annual fixed price wind auction. Subject to the successful outcome of these processes and Ørsted taking final investment decision, the project is expected to be completed in the early 2030s.