EDF Renewables enters South Korean offshore wind development

It acquired shares in West Sea Energy 1 Co., Ltd., which is exploring an offshore wind project.

EDF Renewables has entered South Korea’s offshore wind market following its 100% takeover of Shell Overseas Holdings Ltd.'s shares in West Sea Energy 1 Co., Ltd., which is exploring the development of a large-scale offshore wind project in Yeonggwang.

“This acquisition demonstrates our commitment to contributing to the South Korean government's target of 14.3 GW of offshore wind power installed by 2030,” said Vincent Boulanger, CEO of EDF Renewables in South Korea.

Wind measurements have been conducted in three designated zones. The company will continue to develop the project, which has an estimated capacity of up to 1.5 gigawatts (GW).

EDF Renewables targets to obtain an electricity business licence by 2025.

Aside from Europe and North America, the company is also developing renewable energy projects in major markets, such as China and India. As of the end of 2023, EDF Renewables operates a net installed wind and solar capacity of 12.8 GW (21.2 GW gross) worldwide.