Gwangju Urban Corporation Expands Its Business Scope to Offshore Wind Power

Selected for 'Public-Led Fixed-Price Competitive Bidding'
Joint Investment with Jeonnam Development Corporation and Korea Electric Power Technology
"Expected to Serve as a Catalyst for Renewable Energy Development"

Gwangju Urban Corporation building.

The Shinan Aphae Offshore Wind Power Project, with a capacity of 80MW and involving Gwangju Urban Corporation, has been finally selected for the '2025 Public-Led Offshore Wind Power Fixed-Price Competitive Bidding'.

This project will be promoted under a public-led model, with Gwangju Urban Corporation and Jeonnam Development Corporation each contributing 12% of the equity capital, and Korea Electric Power Technology contributing 10%.

With this selection, Gwangju Urban Corporation is taking its first step beyond the traditional field of urban development into the new area of offshore wind power generation. In particular, through collaboration with Jeonnam Development Corporation, it is expected to drive mutual growth between Gwangju and Jeonnam, serving as a catalyst for the Honam Megacity Economic Alliance.

On September 2, President Kim Seungnam stated, "Participation in this project marks the first step for Gwangju Urban Corporation in actively pursuing offshore wind power generation, an eco-friendly energy source," adding, "We will contribute to the mutual prosperity of Gwangju and Jeonnam and to building a sustainable city for future generations."

Meanwhile, businesses selected for the wind power fixed-price competitive bidding are guaranteed the right to sell the electricity produced at a fixed price for over 20 years. The public-led model is characterized by maximizing business feasibility, as it offers not only Renewable Energy Certificate (REC) weighting but also preferential pricing.