USD200 mn investment announced for 384 MW Offshore wind farm in South Korea
Vena Energy has announced an investment of USD 200 million for the Yokji Offshore Wind Project, located in South Gyeongsang Province, South Korea.
With a planned capacity of 384 MW, the project will play a key role in diversifying South Korea’s energy mix and increasing the share of domestically generated energy in the grid. By reducing reliance on imported fossil fuels, the project will directly contribute to the country’s long-term energy security and carbon neutrality goals.
Yokji Offshore Wind project is currently exploring industrial contributions with the local supply chain while actively seeking ways to coexist with local fishermen in the region. Once completed, the project will generate enough clean electricity to power approximately 300,000 homes annually.
Country updates
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January 31, 2025
Taean Wind Power Secures Fixed-Price Offtake Contract to Develop 500 MW Offshore Wind Project in Korea
Copenhagen Infrastructure Partners (CIP) and Vena Energy have announced that their joint offshore wind project, Taean Wind Power, has been awarded an offtake contract in the 2024 Wind Power Fixed-Pric...
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October 08, 2024
Asset manager ICG acquired 50% interest in Revent Energy
Asset manager ICG has acquired a 50% interest in Revent Energy, with South Korean energy player ST International Corporation (STI) retaining 50% of the company. Revent Energy will focus on acquiring,...
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August 30, 2024
EIA approval secured for 1.1 GW floating offshore wind farm in South Korea
The Ministry of Environment has granted Environmental Impact Assessment (EIA) approval for Ocean Winds and Mainstream Renewable Power's 1,125 MW KF Wind floating offshore project
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February 28, 2024
MoU signed for development of wind power industry driven by 1.6 GW offshore wind project in South Korea
Ørsted has signed a memorandum of understanding (MoU) with Incheon Metropolitan City, Korea, to cooperate on developing a world-class offshore wind power industry in the region.
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February 05, 2024
K2 Management Wins Work on 420 MW Offshore Wind Farm in South Korea
Pacifico Energy Korea (PEK) has selected K2 Management (K2M) as the Owner’s Engineer for the MyeongRyang Offshore Wind project which is the initial phase of a larger 3.2 GW offshore wi...
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