Ocean Winds, a joint venture between ENGIE and EDP Renewables, has obtained an Electric Business Licence (EBL) for the 1,125 MW Hanbando fixed-bottom offshore wind farm in South Korea.
The licence has been granted by the Electricity Regulatory Commission of the Ministry of Trade, Industry and Energy (MOTIE).
The EBL grants the offshore wind project exclusive development rights over the offshore space and reserves interconnection capacity.
With the licence now obtained, Hanbando Offshore Wind will commence the Environmental Impact Assessment and other key permits, conduct site investigations and begin major engineering studies.
“In recent weeks we have seen substantial progress on offshore wind energy in South Korea, with the publication of the 11th Basic Energy Plan, which increases the country’s long-term renewable energy goals, and the passage of the Special Law on Offshore Wind Energy,” said Guzman Figar, Country Director for Ocean Winds in South Korea.
“At OW, we believe that our Hanbando project, which connects directly to the Seoul-Incheon metropolitan area, one of the largest load hubs in the world, will play a key role in helping South Korea achieve these goals.”
Late last year, Ocean Winds signed a memorandum of understanding (MoU) with Hyundai Steel to cooperate on the Hanbando offshore wind energy project, located 120 kilometers off the coast of Incheon.
Through this project, Ocean Winds aims to strengthen its contribution to the South Korean government’s renewable energy deployment target, outlined in the country’s plan to reach 125.9 GW by 2038, the company said.
In addition, Ocean Winds plans to contribute to Incheon Metropolitan City’s goal of developing 6.2 GW of offshore wind capacity by 2030.
