Copenhagen Infrastructure Partners (CIP) has committed to investing USD350 million into offshore wind energy projects in South Korea.

Signed in the presence of the Republic of Korea’s president Yoon Suk-Yeol, the investments from CIP will support the development and construction of large-scale offshore wind projects in the country. The projects include both fixed bottom and floating offshore developments and are located in the Jeonnam Province, including Shinan County, Yeonggwang County, and the Ulsan region.

The projects which are developed by Copenhagen Offshore Partners (COP), the exclusive offshore wind development partner to CIP, will support South Korea’s target of reaching 14.3 GW of offshore wind power by 2030.

David Taesung Yoo, co-ceo of COP Korea, said: “The investment of USD350 million will go to development of our offshore wind portfolio in Korea including the advanced 99 MW Jeonnam 1 project. We have grown our team to about 70 people based in South Korea including expatriates and local offshore wind experts and this investment will allow us to continue growing the team and sharing of know-how with local partners and further the local content contribution. By materializing our gigawatt-scale project we hope to create momentum in the Korean offshore wind market.”

HLPFI’s March/April 2023 edition includes our annual report on the South Korean heavy lift and project logistics market.