EDF Renewables, a subsidiary of EDF, has acquired 100 per cent of Shell Overseas Holdings Ltd.’s shares in West Sea Energy 1, which is exploring the development of a large-scale offshore wind project in South Korea.
The France-based company acquired its first offshore wind project in South Korea, located in the southwestern county of Yeonggwang.
According to EDF Renewables, wind measurements have already been conducted across three identified zones, which have an estimated capacity of up to 1.5 GW.
The company said that the next step is to obtain an Electricity Business License for the offshore wind project (EBL) by 2025.
“This acquisition demonstrates our commitment to contributing to the South Korean government’s target of 14.3 GW of offshore wind power installed by 2030. Supported by our local team and benefiting from more than 15 years’ experience in offshore wind, we are willing to develop a project that will not only contribute directly to the Korean decarbonization plan but also bring new opportunities for local employment and partnerships with the local industry”, said Vincent Boulanger , CEO of EDF Renewables in South Korea.
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EDF Renewables is continuously expanding its local team having started building its presence in South Korea two years ago.
“This acquisition is a significant step for the company in South Korea, in line with its strategy to increase its offshore wind presence in Asia Pacific, and especially in South Korea”, according to the company.
EDF Renewables operates nine offshore wind farms worldwide and is building three others, based on either fixed-bottom or floating technologies.