[Asia Economy Reporter Hyunseok Yoo] Daehan Green Power announced on the 30th that it will participate in the development of the Yeonggwang Duuri Offshore Wind Power Complex, a total 300MW-class offshore wind power project.
The Yeonggwang Offshore Wind Power Complex development project is a large-scale offshore wind farm development project in the public waters area of Yeomsan-myeon, Yeonggwang-gun, Jeollanam-do. Starting with the construction of the 50MW-class Yawol Offshore Wind Power Complex, the 100MW-class Duuri Offshore Wind Power Complex and the 160MW-class Chilsan Offshore Wind Power Complex projects will be sequentially promoted.
Earlier, on the 28th, Daehan Green Power invested 3 billion KRW each in Jaewon Energy and YG Wind Power, special purpose companies (SPCs) established to promote the Duuri Offshore Wind Power Complex project. With this investment, Daehan Green Power has officially entered the offshore wind farm development business.
The Yeonggwang Offshore Wind Power Project, jointly conducted by Daehan Green Power and its parent company Daehan Green Energy, the No.1 renewable energy development specialist in Korea, is one of the projects attracting attention in the renewable energy market. The power generation business license was already obtained in 2018, and the design work for the power complex is underway.
The Yeonggwang Offshore Wind Power Project is a large-scale project with a total project cost of approximately 1.3 trillion KRW. Daehan Green Energy, responsible for planning and construction of the power complex, and Daehan Green Power, responsible for securing and supplying power complex equipment, are expected to see significant growth in performance. The Yeonggwang Offshore Wind Power Project is expected to break ground by mid-next year.
Park Geunsik, CEO of Daehan Green Power, said, "Renewable energy projects face challenges in connecting power plants and substations through transmission lines and substation facilities, but Daehan Green Energy holds a unique competitive advantage as the first private company to own its own substations and transmission lines." He added, "Daehan Green Energy operates a total of 42 wind resource measurement facilities nationwide and has already obtained licenses for multiple projects." He continued, "With the recent successful large-scale capital attraction, we expect the offshore wind power business to accelerate in the future."
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