Offshore wind
Korea Hydro & Nuclear Power (KHNP) announced on June 29 that its consortium has been selected as the preferred bidder for an offshore wind expansion complex phase 1 in North Jeolla Province.
The project involves the construction of an 800-megawatt offshore wind farm as part of a planned 2.4-gigawatt offshore wind complex off the coast of Buan County, about 330 kilometers south of Seoul.
One of the key bidding requirements was that participating consortia be majority-owned by public institutions, with public entities holding more than a 50 percent stake.
KHNP formed a consortium with nine major companies, including Korea East-West Power, KEPCO KPS, Hanwha Ocean, Doosan Enerbility, and KB Financial Group.
The consortium was selected as the preferred bidder after receiving high marks for its public-sector leadership and project execution capabilities, according to KHNP.
Under the project schedule, the KHNP-led consortium plans to sign an implementation agreement with the North Jeolla Province by the end of August.
