Hanbando Offshore Wind, our 1,125MW bottom-fixed project located in the Exclusive Economic Zone (EEZ) of Incheon, South Korea, has successfully been granted the Electricity Business License (EBL) by the Electricity Regulatory Commission under the Ministry of Trade, Industry, and Energy (MOTIE).
The EBL awarded by MoTIE grants the project exclusive development rights over the sea space and reserves interconnection capacity and marks a new step forward in the project development. With EBL now secured, Hanbando Offshore Wind will launch the Environmental Impact Assessment and other key permits, conduct site investigations and initiate the main engineering studies.
Through this project, Ocean Winds aims to strengthen its contribution to the South Korean government’s renewable energy deployment target outlined in the Korea’s 11th Electricity Supply and Demand Plan of achieving 125.9GW by 2038. Additionally, the company plans to contribute to the goal of Incheon Metropolitan City, which aims to develop 6.2 GW of offshore wind power capacity by 2030.
Guzman Figar, Ocean Winds’ Country Manager for South Korea, stated, “We are seeing substantial progress for offshore wind in South Korea in the last weeks, with the publication of the 11th Energy Basic Plan which increases the long-term renewable energy targets for the country, and with the approval of the Special Act on Offshore Wind. At OW, we believe that our Hanbando project, which connects directly to the Seoul – Incheon metropolitan area, one of the largest load centers in the world, will play a key role in supporting South Korea achieve these objectives.”
Ocean Winds is an international company dedicated to offshore wind energy and created as a joint venture, owned by EDP Renewables and ENGIE. The company is currently working on 17 offshore wind projects in eight countries around the world including South Korea. Ocean Winds is a specialist in both bottom fixed and floating foundations projects. Currently, and strictly focusing on bottom fixed, Ocean Winds operates one gigawatt-scale offshore wind farm, Moray East (950MW), and a close to 500 MW project in Belgium, Seamade, and is constructing three additional projects: Moray West (882MW), Tréport & Noirmoutier (1 GW). Through its extensive global project experience, OW has demonstrated strong financial capabilities and expertise in construction and operations, further solidifying its leadership in the global offshore wind market.
