Ocean Winds Secures License for 1,125 MW South Korean Offshore Wind Farm

March 7, 2025, by Adnan Memija

Ocean Winds, a joint venture between ENGIE and EDP Renewables, has secured an electric business license (EBL) for the 1,125 MW Hanbando fixed-bottom offshore wind project in South Korea.

The license has been granted by the Electricity Regulatory Commission under the Ministry of Trade, Industry, and Energy (MOTIE).

The EBL grants the offshore wind project exclusive development rights over the sea space and reserves interconnection capacity.

With the license now secured, Hanbando Offshore Wind will launch the Environmental Impact Assessment and other key permits, conduct site investigations, and initiate the main engineering studies.

“We are seeing substantial progress for offshore wind in South Korea in the last weeks, with the publication of the 11^th Energy Basic Plan which increases the long-term renewable energy targets for the country, and with the approval of the Special Act on Offshore Wind,” said Guzman Figar, Ocean Winds’ Country Manager for South Korea.

“At OW, we believe that our Hanbando project, which connects directly to the Seoul – Incheon metropolitan area, one of the largest load centers in the world, will play a key role in supporting South Korea achieve these objectives.”

At the end of last year, Ocean Winds signed a memorandum of understanding (MoU) with Hyundai Steel to cooperate on the proposed Hanbando offshore wind project, located 120 kilometres from the coast of Incheon.

Ocean Winds, Hyundai Steel to Cooperate on South Korean Offshore Wind Project

Business & Finance

Through this project, Ocean Winds aims to strengthen its contribution to the South Korean government’s renewable energy deployment target outlined in the country’s plan of achieving 125.9 GW by 2038, the company said.

In addition, Ocean Winds plans to contribute to the goal of Incheon Metropolitan City, which aims to develop 6.2 GW of offshore wind capacity by 2030.