South Korea’s Jeonnam 1 offshore wind project commences commercial operation

This will energise around 90,000 households.

The 96-megawatt Jeonnam 1 Offshore Wind Project, South Korea’s largest private offshore wind farm, has officially commenced commercial operation.

This was announced by Copenhagen Offshore Partners (COP), the exclusive offshore wind development arm of Copenhagen Infrastructure Partners.

The offshore wind project is 9 kilometres northwest of Jaeundo in Shinan County, Jeonnam Province. It is expected to produce 301 million kilowatt-hours of electricity annually, which can power about 90,000 households annually and reduce approximately 125,600 tonnes of carbon emissions per year.

This project marks the first large-scale offshore wind project in Korea led by the private sector, and it adopted a non-recourse project financing model, where funding was raised based on the project’s creditworthiness without additional guarantees.

COP and CIP’s pipeline in Korea includes approximately 5 gigawatts of offshore wind projects in Shinan, Ulsan and Taean, including Jeonnam 2 &3, Haesong 1 & 3, Haegum 1 & 2, and Taean Wind Power.