Jeonnam Offshore Wind Power Phase 1 Begins Operation
Supplying Power for 90,000 Households... 96MW Capacity
Phases 2 and 3 Planned... Greenhouse Gas Reduction Expected
The largest privately-led offshore wind power complex in South Korea has officially begun operations. This marks the first case in which the private sector has taken the lead in financing, construction, and operation without any government guarantees.
On May 21, SK Innovation E&S announced that "Jeonnam Offshore Wind Power Phase 1," developed in partnership with the Danish energy investment firm Copenhagen Infrastructure Partners (CIP), began commercial operation on May 16 in the waters off Jaeundo, Shinan, Jeollanam-do. Ten fixed wind turbines have been installed in waters 9 kilometers off the coast of Shinan County, at depths of 10 to 20 meters, providing a capacity of 96MW. This project is the largest offshore wind project in South Korea to be led solely by the private sector. It is expected to generate 301 million kWh annually, supplying enough electricity to power approximately 90,000 households for one year. Compared to coal-fired power generation of the same output, it is also expected to reduce greenhouse gas emissions by about 240,000 tons per year.
Ten 10MW-class wind turbines are installed at Jeonnam Offshore Wind Power Phase 1, located in the shared waters northwest of Jaeundo, Shinan County, Jeollanam-do. SK Innovation E&S
A key feature of this project is that it secured funding through non-recourse project financing, relying solely on the project's business performance and future revenues, without collateral. Jeonnam Offshore Wind Power Co., established with a 51% stake from SK Innovation E&S and a 49% stake from CIP, received its power generation business license in 2017, obtained the shared water use permit in 2022, and began onshore and offshore construction in 2023. After completing trial operations earlier this year, the project has now begun generating electricity.
Following Phase 1, SK Innovation E&S plans to begin construction of Phase 2 (399MW) and Phase 3 (399MW) by the end of 2027, aiming to complete a total 900MW offshore wind complex. Upon completion, the complex will be comparable in scale to a domestic nuclear power plant. The company expects this project to contribute to the industrial sector's "Renewable Energy 100% (RE100)" initiative and to the government's greenhouse gas reduction target (NDC).
The area near Jaeundo is well-suited for offshore wind power generation, with an average annual wind speed of 7 to 8 meters per second. Notably, this project is the first in South Korea to apply monopile substructures to offshore wind turbines. Large 10MW-class turbines, with a height of 127 meters from sea level to the generator and blades measuring 97 meters in length, have been installed. It also marks the largest domestic construction project using the specialized installation vessel "Frontier-ho."
Efforts were also made to promote coexistence with the local community. SK Innovation E&S introduced a resident participation system to share a portion of the power generation profits with local residents, and collaborated with more than 70 companies from Mokpo and Shinan during construction, achieving about 75% localization of equipment. Jeollanam-do and Shinan County plan to develop a total of 8.2GW of offshore wind power complexes by 2035.
Choo Hyungwook, CEO of SK Innovation E&S, stated, "Jeonnam Offshore Wind Power Phase 1 is a symbolic project that signals the full-fledged advancement of South Korea's offshore wind industry," adding, "Based on coexistence with the local community, we will take the lead in expanding renewable energy to a global level."
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