The 96 MW Jeonnam 1 offshore wind project, owned by a joint venture between Copenhagen Infrastructure Partners (CIP) and SK Innovation E&S, has officially commenced commercial operation in South Korea.
Copenhagen Offshore Partners, exclusive offshore wind development partner to CIP, has co-led project development activities for Jeonnam 1 on behalf of the project’s owners.
Jeonnam Offshore Wind Power was founded in 2020 as a 51-49 joint venture between SK E&S and CIP. In 2022, Jeonnam 1 was awarded a 20-year fixed-price offtake agreement with Korea Hydro & Nuclear Power through South Korea’s first wind offtake auction.
Located nine kilometres from Jaeundo in Shinan County, Jeonnam Province, Jeonnam 1 is the largest privately-led offshore wind project in South Korea, with a capacity of 96 MW, according to COP.
“Significantly, this project marks the first large-scale offshore wind project in Korea led by the private sector, and it adopted a non-recourse project financing model, where funding was raised based on the project’s creditworthiness without additional guarantees. It is also recognized as a successful example of effective public-private cooperation, having navigated and resolved numerous regulatory hurdles from construction to commercial operation,” said COP.
Installation of the 10 Siemens Gamesa SG 10.0-193 DD turbines was completed in December 2024, followed by commissioning earlier this year, and the project is now in commercial operation.
The wind farm is expected to produce 301 million kWh of electricity annually, enough to power about 90,000 South Korean households for one year, said COP.
The joint venture is also developing two additional phases of the Jeonnam offshore wind development, Jeonnam 2 and Jeonnam 3, with a total capacity of 800 MW.
“Achieving this milestone is a significant step forward in our efforts to expand renewable energy in the region. We remain committed to supporting the development of sustainable solutions that create local value, strengthen supply chains, and contribute to Korea’s energy independence and climate commitments,” said Jesper Krarup Holst , COP Partner and Head of APAC, and COO of the Jeonnam 1, 2 and 3 portfolio.
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