KOSPO Signs Offshore Wind Agreements as Part of 11.2 GW Renewable Energy Strategy

South Korea’s Korea Southern Power (KOSPO) has unveiled plans to deploy 11.2 GW of renewable energy capacity by 2040, including major offshore wind investments.

The state-owned utility presented a roadmap during a renewable energy investment briefing held in Seoul on 28 May, attended by around 190 representatives from financial institutions, developers, equipment suppliers, and technology companies.

KOSPO said it plans to build 3.4 GW of renewable energy capacity over the next five years and expand this to a cumulative 11.2 GW by 2040, with offshore wind, solar power, and energy storage systems (ESS) identified as key growth areas.

READ MORE

• Equinor and KOSPO Join Forces Offshore South Korea
• Shell Making Further Floating Offshore Wind Moves in South Korea
• Ørsted Enters Another Offshore Wind Agreement in South Korea

As part of the event, the company signed memoranda of understanding (MoUs) with eleven companies across five sectors, including financing, project development, technology development, and energy storage.

In offshore wind, KOSPO signed an agreement with Doosan Enerbility covering equipment supply and domestic supply chain cooperation for the Yeonggwang Yawol and Busan Dadaepo offshore wind projects.

The company also entered a strategic partnership with Bright Energy Partners for joint participation in South Korea’s ESS central contract market, which KOSPO says is aimed at strengthening competitiveness in the offshore wind and energy storage sectors.

Reach the offshore wind industry in one go!

offshoreWIND.biz is read by thousands of offshore wind professionals every day.

—

Increase your visibility with banners, tell your story with a branded article, and showcase your expertise with a full-page company profile in our offshore wind business directory.

CONTACT

Follow offshoreWIND.biz on: