Pacifico Energy Korea has secured approval for an Electricity Business License (EBL) from the Ministry of Trade, Industry and Energy (MOTIE) for its 420 MW Myeong Ryang offshore wind project.
Pacifico Energy Korea is currently developing the 3.2 GW Jindo offshore wind project cluster, consisting of three projects: Myeong Ryang Offshore Wind (420 MW), Manho Offshore Wind (990 MW), and Jindo Baram Offshore Wind (1.8 GW). Together, they represent the largest offshore wind project cluster in a single area being pursued by a single developer in the Asia-Pacific region. Myeong Ryang marks the first phase of this cluster.
The EBL confirms the project’s site boundaries and capacity, allowing the developer to commence the key permitting process.
The next steps for the wind farm include the expedited commencement of geotechnical surveys on the site in the fourth quarter of this year, followed by the Environmental Impact Assessment (EIA), Maritime Safety Assessment, and other key permitting procedures. The project is expected to begin construction in 2030 and commence commercial operations at the end of 2033.
Last year, the company signed an investment declaration with MOTIE for a 480 billion KRW (USD 348 million) commitment. In June of this year, Pacifico Energy Korea further signed a “Cooperation Agreement for the Development of the Offshore Wind Industry and Revitalization of the Daebul Industrial Complex” with three local governments.
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