Large-scale wind power plant to be built in Incheon's exclusive economic zone

Ocean Winds, a global offshore wind power company headquartered in Spain, announced on the 7th that its 1,125 MW fixed-type Korean Peninsula Offshore Wind Power Project in the Incheon Exclusive Economic Zone passed the power generation business permit review by the Electricity Committee of the Ministry of Trade, Industry and Energy. The power



generation business permit granted by the Electricity Committee of the Ministry of Trade, Industry and Energy means securing the development rights to produce and supply electricity in a specific region and securing grid-connected capacity, setting a new milestone in project development.



With this power generation business permit secured, Korean Peninsula Offshore Wind Power will officially begin major licensing procedures, including an environmental impact assessment. It plans to conduct a ground survey and comprehensive analysis and actively pursue basic design items going forward.



Ocean Winds will build the 1,125 MW Korean Peninsula Offshore Wind Power in the Incheon Exclusive Economic Zone. [Photo=Ocean Wars]



Ocean Winds aims to contribute to the realization of the Korean government's goal of supplying 125.9 gigawatts (GW) of renewable energy by 2038 presented in the 11th Basic Plan for Electricity Supply and Demand through the Korean Peninsula Offshore Wind Power Project. It is also



expected to play an important role in Incheon Metropolitan City's regional energy policy, which aims to build a 6.2 GW offshore wind power complex by 2030.



Figar Guzman, CEO of Ocean Winds Korea, said, "In recent weeks, South Korea's offshore wind power industry has made meaningful progress," adding, "Through the 11th Basic Electricity Plan, the country's long-term renewable energy goals were expanded and the 'Offshore Wind Power Special Act' was passed. Ocean Winds is confident that the Korean Peninsula Offshore Wind Power Project, which is directly connected to Seoul and Incheon, the centers of the metropolitan area, will play a pivotal role in realizing South Korea's clean energy transition goal."



Meanwhile, Ocean Winds (OW) is a specialized offshore wind power generation company established through a joint investment by global energy giants EDP Renewables (EDPR) and ENGIE. It



is currently promoting 17 offshore wind power generation projects in 8 countries around the world, including Korea. As a leader in the offshore wind power industry with both fixed and floating basic technologies, it is currently operating two large-scale fixed offshore wind power complexes (Moray East (950 MW) and Seamade (500 MW)) and is currently building three more (Moray West (880 MW) and Tréport & Noirmoutier (1 GW). Through its



extensive global project experience, it is proving its financial capability and construction and operation capabilities, further solidifying its leading position in the global offshore wind power market.





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