Ørsted has announced its intention to develop offshore wind projects off the coast of Incheon City in South Korea with a potential capacity of up to 1.6 GW
The announcement was made at an event including National Assembly members, South Korea’s Energy Agency and industry leaders with a track record in offshore wind in South Korea’s supply chain.
Earlier in 2020, Ørsted deployed four floating lidars off the coast of Incheon. Data collection has progressed well.
Leading South Korean companies have been working with Ørsted on offshore wind projects in Europe and Asia, including POSCO Steel, CS Wind, LS Cable, Hyosung, Samkang M&T, Hyundai ESI and EEW Korea.
Most recently, Samkang M&T and Hyundai ESI completed fabrication of the first jacket foundations for Ørsted’s Greater Changhua 1 & 2a offshore windfarm in Taiwan.
With a strong commitment to supporting South Korea’s green energy transition, Ørsted said it aims to work with South Korean suppliers and “shape a healthy and competitive domestic supply chain that can maintain and expand its export success.”
The offshore wind developer has also started engagement with local communities and the fishing industry in the area to ensure their voices are heard and their input incorporated into the project development.
Ørsted Offshore chief executive and executive vice president Martin Neubert said South Korea’s strong industrial capabilities, significant supply chain potential and numerous sites with promising offshore wind conditions mean that the country is well-placed to become leading offshore wind market.
Ørsted Asia Pacific president Matthias Bausenwein said the projects offshore Incheon “will support a thriving offshore wind industry in South Korea and contribute to the realisation of the government’s target of 12 GW offshore wind by 2030.”
The projects will be more than 70 km from the main parts of Incheon City in relatively shallow water that will allow for a cost-effective development.
Subject to permits, off-take agreement with a South Korean energy utility and a final investment decision, the projects should be commissioned from 2026 onwards.