Deep Wind Receives First Electricity Business Licence for Offshore Wind Project in South Korea

Deep Wind Offshore has secured an Electricity Business Licence (EBL) from Korea’s Electricity Regulatory Commission for 345 MW from its 1.5 GW Admiral Lee offshore wind project.

According to the developer, this is planned to be the first of several EBLs and marks the entry of the large-scale project into its next development phase.

Deep Wind Offshore is developing the Admiral Lee offshore wind project in partnership with Korea Hydro and Nuclear Power (KHNP), under an agreement the two companies signed earlier this year.

The first EBL licence follows a Public Waters Occupancy and Use Permit (PWOP) that the developer received for the up to 1.5 GW wind farm in December 2024.

“Securing the EBL is a major step forward – not only for the Admiral Lee project, but for Deep Wind Offshore’s long-term presence in Korea and our path towards realizing the project together with strong local partners”, said Knut Vassbotn, CEO of Deep Wind Offshore.

“We firmly believe in the potential of the Korean offshore wind market and its strong leadership from central government to turn ambitions into projects. It is a testament to the strength of true partnerships built on mutual respect and shared ambitions.”

With both the PWOP and the first EBL secured, the project will now proceed with the Environmental Impact Assessment (EIA) and Implementation Plan Approval and will target participation in upcoming centrally run REC/PPA auctions thereafter, Deep Wind Offshore said on 3 July.

As part of its EIA process and site investigation for further development of the project, the developers deployed a floating LiDAR at the Admiral Lee site last month.