A consortium led by Korea Hydro & Nuclear Power (KHNP) has been selected as the preferred bidder for the Jeonbuk Southwestern Offshore Wind Expansion Complex 1 project in a tender promoted by the Jeonbuk State, a special self-governing province of South Korea.
The project is an 800 MW offshore wind farm planned as the first phase of a broader 2.4 GW offshore wind development being advanced by the Jeonbuk government in waters off Buan County. Among the tender requirements is also a stipulation for public institutions to hold more than 50 per cent of the shares in the project.
KHNP entered the competition together with nine partners from the power, industrial, finance and offshore sectors. The consortium includes Hanwha Ocean, Doosan Enerbility, Korea East-West Power, KEPCO KPS, KEPCO Engineering & Construction, IBK Financial Group, KB Financial Group, Samil C&S and Jungang Ocean Heavy Industries.
According to KHNP, the consortium was selected based on its public-interest credentials, project delivery capabilities and proposals for regional cooperation and local economic development.
The consortium is expected to sign an implementation agreement with the Jeonbuk provincial government by the end of August and then move forward with project development.