Copenhagen Infrastructure Companions (CIP) and SK E&S say they’ve reached monetary shut on the 99 MW Jeonnam I offshore wind energy venture in South Korea.
As soon as accomplished later subsequent yr, the venture is anticipated to turn into the primary Korean commercial-scale offshore wind farm to enter operation.
SK E&S and CIP are additionally collectively growing Jeonnam 2 and Jeonnam 3, two offshore wind initiatives with a complete capability of 800 MW presently within the growth part.
Jeonnam 1, 2 and three will help Korea’s formidable goal of reaching 14.3 GW of offshore wind energy by 2030, a big improve in comparison with the present 100 MW put in at present.
Jeonnam entered a grid connection settlement with KEPCO, the state-owned utility in South Korea, permitting the venture to hook up with the grid throughout 2024. In 2022, Jeonnam I used to be awarded a 20-year fixed-price offtake settlement with Korea Hydro & Nuclear Energy via Korea’s first wind offtake public sale.
All through 2022, the venture additionally signed manufacturing and building contracts with Korean suppliers together with Hyundai Engineering and Metal Industries, Hyundai Electrical and Gaon, KT Submarine and LS Cable and System. The venture will make the most of Mokpo New Port because the marshalling port all through building.
“SK E&S is proud to be main the offshore wind business in Korea with this landmark venture,” Jeonnam CEO Daniel Yun mentioned. “Jeonnam 1 is anticipated to supply inexperienced electrical energy equal to roughly 60,000 households in Korea.”
Picture by Andrzej Kryszpiniuk on Unsplash
