Ocean Winds, a joint venture between EDP Renewables and Engie SA, has received an Electricity Business License (EBL) for a 1,125-megawatt (MW) offshore wind project in South Korea. The license was granted by the Ministry of Trade, Industry, and Energy’s Electricity Regulatory Commission. This allows Ocean Winds to secure development rights over the seabed, reserve interconnection capacity, and begin environmental and engineering studies for the project.
The Hanbando offshore wind project will be built in the Exclusive Economic Zone (EEZ) near Incheon, in northwestern South Korea. Once operational, it will supply electricity to the Seoul-Incheon metropolitan area. South Korea has set a goal of reaching 125.9 gigawatts (GW) of installed renewable energy capacity by 2038. In late 2024, Ocean Winds signed a memorandum of understanding with Hyundai Steel to cooperate on the Hanbando project and develop a domestic supply chain for offshore wind.
In addition to large-scale offshore wind projects, South Korea has been expanding smaller renewable energy projects. A 50 MW floating solar power plant has been completed on the Hapcheon Dam reservoir, generating electricity for nearby areas. A 20 MW solar project in South Jeolla Province has been installed on reclaimed land to optimize space usage.
Other projects include a 15 MW wind farm in Gangwon Province, supplying electricity to local industries. A 5 MW rooftop solar installation at a logistics center in Gyeonggi Province is reducing reliance on traditional power sources. In North Chungcheong, a 2 MW agrivoltaic project is operating on farmland, allowing solar panels and crops to coexist.
A pilot tidal energy project with a 1 MW capacity is under testing near the Uldolmok Strait. A hydrogen-powered fuel cell system with 3 MW capacity has been deployed in Busan to supply electricity to public buildings. These projects contribute to South Korea’s renewable energy expansion alongside offshore wind development.
