Pacifico Energy advances 3.2-GW offshore wind projects in South Korea

The cluster, located off Jindo County in South Jeolla province, comprises three projects.

Pacifico Energy Korea has signed a memorandum of understanding with Hana Bank and Hana Securities for the 3.2-gigawatt (GW) Jindo Offshore Wind Project Cluster in South Korea.

The cluster is located off Jindo County in South Jeolla Province and comprises three projects: the 420-megawatt (MW) Myeong Ryang Offshore Wind, the 990-MW Manho Offshore Wind, and the 1.8-GW Jindo Baram Offshore Wind.

Myeong Ryang Offshore Wind secured an Electricity Business Licence from the Ministry of Trade, Industry and Energy in September 2025 and has completed geophysical surveys and a preliminary environmental impact assessment.

Manho Offshore Wind and Jindo Baram Offshore Wind have submitted licence applications and remain under review.

The agreement covers development, construction, and operation phases of the project and sets out cooperation on project financing, financial advisory, and investment mobilisation.

“The parties will also work together to develop a financing model for mutual growth designed to support Korea’s offshore wind industry and supply chain, and to foster the broader offshore wind industrial ecosystem,” Pacifico Energy said.

It also aims to revive the regional economy and job creation in Jindo County and Jeonnam Province.

The MOU signing took place on 12 June at Hana Securities in Yeouido, Seoul, attended by senior executives from the three organisations.