Ørsted planning up to 1.6 GW of offshore wind projects in S Korea

Danish green energy major Ørsted A/S (CPH:ORSTED) on Tuesday unveiled its intention to develop up to 1.6 GW of offshore wind power projects in South Korean waters.

These projects would be located off more than 70 kilometres (43.5 miles) off the coast of Incheon City and its main parts. Ørsted said that it had deployed four floating lidars off Incheon’s shores earlier this year, made progress in collecting all relevant data and started engagement with local communities and the fishing industry to get their input.

Depending on the permitting process, off-take agreement with a Korean utility and final investment decision, Ørsted could start commissioning its wind farms from 2026 onwards.

The Incheon projects would represent a multi-trillion won investment and provide clean power to 1.4 million South Korean households, the Danish company said.

"Ørsted's projects in Incheon will support a thriving offshore wind industry in South Korea and contribute to the realization of the government's target of 12GW offshore wind capacity by 2030,” said Matthias Bausenwein, president of Ørsted Asia Pacific.

“With strong industrial capabilities, significant supply chain potential, and numerous sites with promising offshore wind conditions, South Korea has a fantastic starting point for becoming a leading offshore wind market," added executive vice president and CEO of Ørsted Offshore Martin Neubert.

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