Korea Midland Power Boosts 390 MW Shinan Ui Offshore Wind Project with US$1 billion Investment

Korea Midland Power has acquired a stake in the 390 MW Sinan Ui offshore wind project through an investment with developer partners, taking equity in the wind farm under construction off the south coast of Uido in Sinan County, South Jeolla Province, South Korea. 

Korea Midland Power has committed KRW 96.1 billion (US$66.5 million) to the Shinan Ui Offshore Wind Project, subscribing to 96.1 million newly issued shares. The project, which carries an overall investment of approximately KRW 3.4 trillion (US$2.35 billion), involves the development of a 390MW offshore wind farm off the southern coast of Ui Island in Sinan County. Financial close has been achieved, offshore construction is slated to commence in April 2026, and commercial operations are targeted for February 2029. 

Once operational, the project is expected to generate enough power to serve roughly 290,000 homes. Hanwha Ocean, SK eternix, and Hyundai Engineering & Construction will participate alongside Korea Midland Power as strategic investors. Following completion, Korea Midland Power will oversee the operation and maintenance of the offshore wind facilities, including support services for related auxiliary systems.