K2 Management Wins Work on 420 MW South Korean Offshore Wind Farm

January 31, 2024, by Adnan Memija

Denmark-headquartered K2 Management (K2M) has been selected by Pacifico Energy Korea as the Owner’s Engineer for the first phase of a 3.2 GW offshore wind project in South Korea.

Pacifico Energy Korea K2M — *Source: K2 Management*

The MyeongRyang Offshore Wind Project is the initial phase of a larger 3.2 GW offshore wind complex off the coast of Jindo-gun, Jeollanam-do in South Korea, being developed by Pacifico Energy Korea, a subsidiary of American renewable energy developer Pacifico Energy.

K2 Management’s role as Owner’s Engineer encompasses support in the overall project management. This includes conducting wind analysis, metocean studies, conceptual designs, and preparing and selecting contractors for site investigation.

The company will continue to offer technical support throughout the site investigation process, as well as assistance in obtaining permits. With work having begun in December 2023, K2M is expected to be actively involved until 2025.

”South Korea continues to build a strong offshore wind market, and the recent auctions last year are a positive reflection of the nation’s goals. We are incredibly proud to be able to contribute to that growth by supporting PEK in the first phase of their major 3.2GW wind complex, a project that will play a crucial role in helping the country decarbonise,” said Jake Jung, Country Director for South Korea at K2 Management.

The project involves the construction of a bottom-fixed offshore wind farm with an installed capacity of approximately 420 MW. Set to commence construction in 2028, the wind farm is said to play an important role in South Korea’s target of installing 14.3 GW of offshore wind by 2030.

“The MyeongRyang Offshore Wind project is a significant development that demonstrates the vast potential of offshore wind power in South Korea. This marks our inaugural venture into offshore wind in the country, and one of the largest offshore wind projects in Korea, and we’re excited to initiate the first phase of this project,” said Seoung-Ho Choe, Representative Director/CEO of Pacifico Energy Korea.

In October 2023, Pacifico Energy Korea, HD Hyundai Electric, CS Wind, Korea Ocean Engineering & Consultants, and Daebul Shipbuilding signed a memorandum of understanding (MOU) to develop the 3.2 GW offshore wind project off the coast of Jindo County in South Jeolla Province.

Founded in 2012, Pacifico Energy has actively undertaken the construction and operation of renewable energy projects, boasting a total capacity exceeding 1.5 GW across the Asia-Pacific region.

In 2021, Pacifico Energy formed a joint venture, SSE Pacifico, in partnership with SSE Renewables. The joint venture is actively engaged in the development of 6 GW offshore wind projects in Japan. Pacifico Energy Korea has a portfolio of 240 MW of solar power and over 5 GW in offshore wind.

When it comes to K2 Management, the company offers a wide range of services within engineering, planning, project management, and due diligence spanning the entire value chain of an energy project, from the earliest phase of development, through construction as well as maximising operations with asset management.