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7SeasMed Floating Offshore Wind Project Receives Environmental Impact Assessment Approval, the First for a Floating Offshore Wind Project in Italy

Posted on: March 22nd, 2024 by Jason Weight No Comments

March 22, 2024 – Sicily, Italy and Copenhagen, Denmark:

Yesterday, the 250MW 7SeasMed Floating Offshore Wind Project was granted approval of its Environmental Impact Assessment (EIA) by the Italian Ministry for Environment and Energy Security. This is the first EIA approval for a floating offshore wind project in Italy and marks an important milestone to jumpstart the offshore wind industry and support Italy’s renewable energy and climate goals. Copenhagen Offshore Partners (COP), a global leader in offshore wind development and construction, serves as lead developer for the project, which is owned by a consortium including GreenIT, the Italian renewable energy joint venture between Plenitude (Eni) and CDP Equity (CDP Group), and Copenhagen Infrastructure Partners (CIP), a global leader in greenfield renewable energy investments. 

7SeasMed is a 250MW floating offshore wind project that will be located approximately 35 kilometers off the coast of Marsala, Sicily. Approval of the EIA paves the way for construction and operation of the offshore wind farm, which will use cutting edge-technologies and environmentally-conscious practices. 7SeasMed also positions Sicily as an important hub for renewable energy generation in Italy and bolsters the country’s commitment to carbon neutrality.  

“We are delighted to receive EIA approval for the 7SeasMed floating offshore wind project off the coast of Sicily,” said Michele Schiavone, COP Italy CEO and Project CEO for 7SeasMed. “This represents a significant achievement in our mission to accelerate the energy transition and combat climate change. The project underscores our commitment to pioneering innovative solutions that balance energy needs with environmental stewardship.” 

“The EIA Decree is the result of our robust and collaborative approach to all environmental disciplines, including stakeholder engagement and dialogue the 7SeasMed team has conducted with public bodies at both the national and local levels” said Alan Hannah, COP Partner and Europe Market Development Lead. “Floating offshore wind is moving from demonstration to first industrialisation and we are proud to have 7SeasMed play a key role in this momentum.”

Floating offshore wind represents a transformative approach to renewable energy production, harnessing the vast potential of offshore wind resources in deeper waters where traditional fixed-bottom installations are unable to be deployed. By utilizing innovative floating platforms anchored to the seabed, 7SeasMed aims to unlock new opportunities for sustainable energy generation while minimizing environmental impact. 

7SeasMed will deliver numerous benefits to Italian communities and the economy, including: 

  • Clean Energy Generation: With a capacity of 250MW, 7SeasMed will contribute to Sicily’s renewable energy capacity, reducing reliance on fossil fuels and lowering carbon emissions. 
  • Job Creation and Economic Growth: The project will create job opportunities during the construction and operation phases, stimulating economic growth in the region and supporting local communities. 
  • Technological Innovation: By deploying state-of-the-art floating platform technology, the project showcases advancements in offshore wind technology, driving innovation and expertise in the renewable energy sector. 
  • Provide local, clean and affordable energy to more than 70,000 homes in Sicily or around 5% of Sicily’s total electricity consumption. 

 7SeasMed is part of a larger 3GW offshore wind portfolio in Italy owned by the GreenIT and CIP partnership, and of which COP serves as lead development partner. This is one of the largest floating portfolios in Italy and in addition to 7SeasMed it includes the Ichnusa (504MW, Sardinia) Tyrrhenian (500MW, Latium), Nurax (500MW, Sardinia), and Poseidon (1000MW, Sardinia) projects.  

 

 

About Copenhagen Offshore Partners 

Copenhagen Offshore Partners (COP) is a world leader in offshore wind project origination, development, and construction. COP is accelerating the energy transition through development of a 50+ GW project portfolio. An industry pioneer, the group is leading project development in new markets, including four projects currently under construction – Changfang Xidao and Zhong Neng in Taiwan, Vineyard Wind 1 in the United States and Jeonnam 1 in Korea. COP also specializes in system integration capabilities, including power-to-x. COP’s expert team are advancing projects across 17 offices in Europe, Asia Pacific, and the Americas. COP is a proudly independent company owned by its management. Learn more at www.cop.dk 

 

About GreenIT
GreenIT is a joint venture, owned 51% by Plenitude (Eni) and 49% by CDP Equity, for the development, construction, and management of plants for the production of energy from renewable sources in Italy. The joint venture, created in 2021, is part of the strategy aimed to support the country’s energy transition, increasing the generation of renewable energy, in line with the objectives set by the 2030 Integrated National Energy and Climate Plan. For more information, visit www.green-it.online/   

 

About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X. 

CIP manages 12 funds and has to date raised approximately EUR 28 billion for investments in energy and associated infrastructure from more than 160 international institutional investors. CIP has approximately 500 employees and 12 offices around the world. For more information, visit www.cip.com 

 

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For media inquiries, reach out to Jamie Shellenberger-Bessmann jsb@cop.dk

Claire Lohan Appointed CEO of Copenhagen Offshore Partners Taiwan, Leading 6.3 GW Offshore Wind Development Portfolio

Posted on: January 16th, 2024 by Venke Weil No Comments

January 16 , 2024 – Copenhagen, Denmark & Taipei, Taiwan:

Copenhagen Offshore Partners (COP), a global leader in offshore wind development and construction, has appointed Claire Lohan as the new CEO of COP Taiwan. Lohan will take over from Dennis Sanou and oversee operations and development of COP’s growing 6.3 GW project development portfolio in Taiwan, including leading bid development for the second phase of Taiwan Round 3 auctions.

Lohan steps into the role after serving as CEO of the Taiwan Round 3 team at COP since 2022 during which time she led the team to secure an award for the Fengmiao 1 project. Dennis Sanou will continue to serve as CEO of the Changfang Xidao project and Joris Hol will assume the role of Fengmiao 1 CEO as well as carry on in his role as CEO of the Zhong Neng offshore wind project.

“I am delighted to take on the leadership of our extraordinary team in Taiwan. Time and again they have shown themselves to be amongst the most talented and high-performing teams in the industry. New and challenging market conditions mean we will draw even further on these qualities and our culture of delivery. I look forward to engaging with the Government and our other stakeholders to ensure the energy transition in Taiwan is a success.”

COP is developing offshore wind projects in Taiwan on behalf of Copenhagen Infrastructure Partners (CIP) and project partners. The portfolio includes the 600 MW Changfang Xidao project and the 300 MW Zhong Neng project, in partnership with our partner China Steel Corporation and which are currently under construction, the 500 MW Fengmiao 1 project which is being developed towards financial close, and more than 6 GW of other sites in development.

 

About Copenhagen Offshore Partners

Copenhagen Offshore Partners (COP) is a world leader in offshore wind project origination, development, and construction. COP is accelerating the energy transition through development of a 50+ GW project portfolio. An industry pioneer, the group is leading project development in new markets, including four projects currently under construction – Changfang Xidao and Zhong Neng in Taiwan, Vineyard Wind 1 in the United States and Jeonnam 1 in Korea. COP also specializes in system integration capabilities, including power-to-x. COP’s expert team are advancing projects across 17 offices in Europe, Asia Pacific, and the Americas. COP is a proudly independent company owned by its management. Learn more at www.cop.dk

Rune Damgaard and Jesper Krarup Holst Appointed Co-CEOs of COP Philippines, Lead 2 GW Offshore Wind Development Portfolio

Posted on: January 15th, 2024 by Venke Weil No Comments

January 15, 2024 – Copenhagen, Denmark / Manila, Philippines:

Copenhagen Offshore Partners (COP), a global leader in offshore wind development and construction, has announced Rune Damgaard and Jesper Krarup Holst will serve as Co-CEOs of the group’s operations in the Philippines, including development of three offshore wind sites totalling 2 GW of capacity which are owned by a Copenhagen Infrastructure Partners (CIP) managed fund.

Damgaard transitions into the role after serving as Deputy CEO and Procurement Director at COP for the group’s 500 MW Feng Miao 1 project in Taiwan. Holst, a Partner at COP, brings unrivalled global offshore wind experience including leadership of projects through the development phase and into construction in countries including Taiwan and South Korea. Holst will continue his regional leadership position at COP covering Asian markets including Taiwan, South Korea and now also the Philippines.

“I am excited to serve as co-CEO and lead development for our growing offshore wind portfolio in the Philippines, which COP is advancing on behalf of Copenhagen Infrastructure Partners,” said Damgaard. “The Philippines government has demonstrated excellent ambition to unleash offshore wind as part of their renewable energy mix in the future, and together, our COP and CIP teams are committed and ready to partner with the domestic supply chain, foster relationships with local stakeholders, and contribute to the growth of a sustainable offshore wind market.”

“Similar to COP’s approach to offshore wind development in other new markets, we are excited about bringing our global expertise and track record to the Philippines market,” said Holst. “As we grow our local team and work together with stakeholders in the local community, we look forward to supporting the energy transition in the country and delivering low cost and affordable renewable energy whilst creating local employment opportunities.”

To support the development of the group’s Philippines portfolio, COP is opening a new office in Manila with CIP, the world’s largest dedicated fund manager within greenfield renewable energy investments. COP is the exclusive offshore wind development partner to CIP.

The 2 GW portfolio COP is leading development for in the Philippines is expected to create around 4,500 jobs during the development and operations period, as well as generate enough electricity to power approximately one million households, which would offset 2.9 million tonnes in CO2 emissions per year for the duration of their 25-year contracts.

CIP and COP are targeting delivery of Philippines projects by 2028 and are committed to developing them in partnership with the Philippines government and local stakeholders to support the nation’s climate, renewable energy, and economic development goals.

 

About Copenhagen Offshore Partners

Copenhagen Offshore Partners (COP) is a world leader in offshore wind project origination, development, and construction. COP is accelerating the energy transition through development of a 50+ GW project portfolio. An industry pioneer, the group is leading project development in new markets, including four projects currently under construction – Changfang Xidao and Zhong Neng in Taiwan, Vineyard Wind 1 in the United States and Jeonnam 1 in Korea. COP also specializes in system integration capabilities, including power-to-x. COP’s expert team are advancing projects across 17 offices in Europe, Asia Pacific, and the Americas. COP is a proudly independent company owned by its management. Learn more at www.cop.dk

Vineyard Wind 1 Achieves First Power

Posted on: January 4th, 2024 by Jason Weight No Comments

January 3, 2024 – Copenhagen, Denmark and Boston, Massachusetts:

Copenhagen Offshore Partners (COP), a global leader in offshore wind development and construction, today announced that first power from the Vineyard Wind project was delivered to the grid for the first time. As part of the initial commissioning process, one turbine delivered approximately 5 megawatts of power, with additional testing expected to happen both on and offshore in the coming weeks. The project expects to have a full string (five turbines) operating at full capacity early in 2024. COP leads project development and construction activities for the Vineyard Wind project on behalf of the project’s partners, Copenhagen Infrastructure Partners (CIP), a global leader in greenfield renewable energy investments, and Avangrid, Inc., a leading sustainable energy company and member of the Iberdrola Group.

“We are thrilled to celebrate the achievement of first power from the Vineyard 1 project in Massachusetts,” said Klaus Møller, senior vice president and partner at COP and CEO of Vineyard Wind. “This milestone represents a significant leap forward for the American offshore wind industry and underscores our commitment to supporting local communities where we operate, as well as energy security and a sustainable future for all. The Vineyard Wind and COP team has done amazing work here and they can all be proud of making history in the US.  We extend our gratitude to our partners and stakeholders who have shown unwavering commitment to accelerating the energy transition in making this achievement possible, and we remain dedicated to further advancing the potential of offshore wind in the United States.”

Vineyard Wind 1 began offshore construction in late 2022, achieved steel-in-the-water in June of this year, and completed the nation’s first offshore substation in July. An 806-megawatt project located 15 miles off the coast of Martha’s Vineyard, the project will consist of 62 wind turbines and will generate enough power for more than 400,000 homes and businesses. The project is set to create 3,600 Full Time Equivalent (FTE) job years, save customers $1.4 billion over the first 20 years of operation, and is expected to reduce carbon emissions by more than 1.6 million metric tons per year, the equivalent of taking 325,000 cars off the road annually.

 

About Copenhagen Offshore Partners

Copenhagen Offshore Partners (COP) is a world leader in offshore wind project origination, development, and construction. COP is accelerating the energy transition through development of a 50+ GW project portfolio, one third of which represents floating offshore wind. An industry pioneer, the group is leading project development in new markets, including four projects currently under construction – Changfang Xidao and Zhong Neng in Taiwan, Vineyard Wind 1 in the United States and Jeonnam 1 in Korea. COP also specializes in system integration capabilities, including power-to-x. The group’s expert team is advancing projects across 17 offices in Europe, Asia Pacific, and the Americas. COP is a proudly independent company owned by its management. Learn more at www.cop.dk.

Jonathan Spink and David Yoo to lead Copenhagen Offshore Partners Korea Offshore Wind Development Portfolio

Posted on: December 13th, 2023 by Venke Weil No Comments

December 13, 2023: Copenhagen, Denmark and Seoul, Korea –

 

Copenhagen Offshore Partners (COP), a global leader in offshore wind development and construction, announced that Jonathan Spink has been appointed Co-CEO of COP Korea and will lead the team alongside David Yoo who has served as Co-CEO in Korea since COP entered the market in 2018. Spink will take over for Jesper Krarup Holst while also continuing to serve as Chief Executive Officer of the Haewoori offshore wind project. Holst will continue to serve as Chief Operating Officer for the Jeonnam 1, 2, 3 Joint Venture between CIP and SK E&S as well as his APAC regional leadership role covering Korea, Taiwan and the Philippines.

Spink and Yoo will advance COP Korea’s 4.4GW offshore wind portfolio on behalf of Copenhagen Infrastructure Partners (CIP) and project partners. The portfolio includes the 99 MW Jeonnam 1 project that is currently under construction, Jeonnam 2 and 3, Haewoori 1, 2, and 3, the projects in Shinan and Younggwang provinces, as well as other early market development activities.

“COP’s approach to offshore wind development in Korea has been well-advised, bold, and driven through a partnership and local community mindset,” said Spink. “It’s an honor to be a part of this team and now work together with David Yoo to carry forward all of the good effort that is unleashing offshore wind projects and bringing new renewable energy resources to Korea.”

“Jonathan has shown great vision and leadership since he joined us as CEO of the Haewoori projects in 2022,” said Yoo. “As Co-CEOs of COP Korea, I know we will be successful to continue growing the COP Korea team while also working closely with local leaders and communities to ensure these projects align with Korea’s renewable energy, climate, and economic development goals.”

 

About Copenhagen Offshore Partners

Copenhagen Offshore Partners (COP) is a world leader in offshore wind project origination, development, and construction. COP is accelerating the energy transition through development of a 50+ GW project portfolio, one third of which represents floating offshore wind. An industry pioneer, the group is leading project development in new markets, including four projects currently under construction – Changfang Xidao and Zhong Neng in Taiwan, Vineyard Wind 1 in the United States and Jeonnam 1 in Korea. COP also specializes in system integration capabilities, including power-to-x. COP’s expert team are advancing projects across 17 offices in Europe, Asia Pacific, and the Americas. COP is a proudly independent company owned by its management. Learn more at www.cop.dk

 

Alicia Barton Joins Copenhagen Offshore Partners as US CEO 

Posted on: December 4th, 2023 by Venke Weil No Comments

US Industry and Policy Leader to Also Serve as CEO of Vineyard Offshore, Lead Offshore Wind Development on East and West Coasts 

December 4, 2023 – Copenhagen, Denmark & Boston, Massachusetts:

Copenhagen Offshore Partners (COP), a global leader in offshore wind development and construction, today announced Alicia Barton will join as US CEO, starting in January. Barton will also serve as CEO for Vineyard Offshore, the offshore wind platform of which COP leads development activities for in the United States. Barton will take over in both roles for Lars T. Pedersen, who has led Vineyard Offshore since it was founded in 2022 and before that led the team developing Vineyard Wind, the first commercial-scale offshore wind project in the United States, now under construction.   

“Alicia brings an outstanding mix of skills and talents to the COP and Vineyard Offshore teams,” said Pedersen. “She is widely known and highly respected across the industry. I had the pleasure of working with her during the very early days of the Vineyard Wind project and I am confident she will carry forward the rapid momentum and success our team has set in motion in North America.”  

For the past three years, Barton has served as CEO of FirstLight Power, developing and operating 1.6 GW of hydroelectric, pumped storage, battery storage, and solar assets in the U.S. and Canada. Previously, she managed operations for the Global Utility Group at SunEdison, which at the time was the largest renewable energy development company in the world. Barton has also served as CEO of the Massachusetts Clean Energy Center and President and CEO of the New York State Energy Research and Development Authority (NYSERDA).  

“I am thrilled to be joining COP and Vineyard Offshore at this critical moment for the global offshore wind industry and the future of the global energy transition,” said Barton. “We are poised to lead the North American offshore wind market by combining the global pipeline and expertise of our team and project partners, including Copenhagen Infrastructure Partners. I am excited to take on the challenge of helping the company achieve even greater success ahead on both the East and West Coasts of the United States.”   

Earlier in her career, Barton practiced law and served in the Massachusetts Executive Office of Energy and Environmental Affairs, running the state’s environmental review office, among other positions. She also sits on the boards of directors of several leading climate focused organizations and companies, including the Environmental League of Massachusetts, Advisory Board for the New England Women in Energy and Environment (NEWIEE) and formerly Chaired the Board for Greentown Labs.   

Barton holds a Bachelor of Science degree in Natural Resources from the Ohio State University and a J.D. from Boston College Law School.  

As part of the Vineyard Offshore project company in the United States, COP is leading project development activities for a 6 GW offshore wind portfolio in the country. In addition to the newly awarded 1.3 GW Excelsior Wind project in New York, the portfolio includes the country’s first commercial-scale offshore wind project, Vineyard Wind 1 in Massachusetts, one of the first floating offshore wind lease areas off the northern coast of California, and development of an additional lease area on the East Coast, south of the current Vineyard Wind site, and a newly acquired lease area off the Northern California coast, which will require floating wind turbines. Vineyard Offshore is the exclusive US developer of offshore wind projects in lease areas owned by funds administered by Copenhagen Infrastructure Partners (CIP), a global leader in renewable energy investment. 

 

About Copenhagen Offshore Partners 

Copenhagen Offshore Partners (COP) is a world leader in offshore wind project origination, development, and construction. COP is accelerating the energy transition through development of a 50+ GW project portfolio, one third of which represents floating offshore wind. An industry pioneer, the group is leading project development in new markets, including four projects currently under construction – Changfang Xidao and Zhong Neng in Taiwan, Vineyard Wind 1 in the United States and Jeonnam 1 in Korea. COP also specializes in system integration capabilities, including power-to-x. The group’s expert team is advancing projects across 17 offices in Europe, Asia Pacific, and the Americas. COP is a proudly independent company owned by its management. Learn more at www.cop.dk. 

 

About Vineyard Offshore 

Vineyard Offshore is leading the development of two lease areas in the Northeast, in addition to a recently acquired lease in Northern California, OCS-P 0562. Lease area OCS-A 522, known as Vineyard Northeast, is located off the coast of Massachusetts. OCS-A 544, known as Vineyard Mid-Atlantic and home to the Excelsior Wind Project, is located in the New York Bight. Combined with its joint venture development of the first-in-the-nation offshore wind project, Vineyard Wind, now under construction, Vineyard Offshore has the potential to develop more than 6 gigawatts of clean, renewable and affordable energy on the East and West Coasts of the United States.  To learn more, visit: www.vineyardoffshore.com. 

Vineyard Offshore’s Excelsior Wind project selected as next wave of offshore wind in New York

Posted on: October 24th, 2023 by Venke Weil No Comments

October 24, 2023New York, NY and Copenhagen, DK:

Copenhagen Offshore Partners (COP), a global leader in offshore wind development and construction, is proud to announce the Excelsior Wind project has been awarded 1.3 gigawatts (GWs) in the latest solicitation for offshore wind power held by the New York State Energy Research and Development Agency (NYSERDA) in the United States. The project will be developed in the Vineyard Mid-Atlantic lease area (OCS-A 544) located in the New York Bight, located 24 miles off the coast Long Island. When complete, Excelsior Wind will provide clean and affordable energy for more than 700,000 homes in the New York City area, helping to avoid up to 1.1 million metric tons annually in carbon pollution, the equivalent to taking 225,000 cars off the road every year.

The Excelsior Wind lease area is owned by Copenhagen Infrastructure IV, a fund managed by Copenhagen Infrastructure Partners (CIP). COP will lead development activities for Excelsior Wind as part of Vineyard Offshore, CIP’s offshore wind platform in the United States.

“We are honored that the Hochul Administration has selected our Excelsior Wind project and thank the Governor for her continued commitment to our industry,” said COP Co-CEO and Vineyard Offshore CEO Lars T. Pedersen. “Excelsior Wind will provide clean and affordable energy, powering both economic growth and improvements in environmental and public health.  We are grateful that NYSERDA has placed their trust in our proven ability to deliver projects and look forward to continuing to work alongside local stakeholders across the Empire State.” 

“This is an important milestone in our goal to deliver large-scale renewable energy and create thousands of new jobs for New York. We are excited to bring our expertise and experience from building Vineyard Wind 1, the nation’s first commercial scale offshore wind farm, to the Empire State,” said partner and Head of North America at CIP, Tim Evans. “I want to thank Governor Hochul and her entire team for forging a viable path forward for our industry and for New York.”

Led by the most experienced offshore wind team in North America, Vineyard Offshore has crafted the proposals to ensure deliverability of the projects and their associated economic benefits to cement and sustain New York as a national hub of the offshore wind industry. 

The Excelsior Wind project is part of a 6 GW offshore wind portfolio in the US of which COP is leading development for through the Vineyard Offshore project company. In addition to the newly awarded Excelsior Wind project in New York, the portfolio includes the country’s first commercial-scale offshore wind project, Vineyard Wind 1 in Massachusetts, and one of the first floating offshore wind lease areas off the northern coast of California. 

 

 

About Copenhagen Offshore Partners 

Copenhagen Offshore Partners (COP) is a world leader in offshore wind project origination, development, and construction. COP is accelerating the energy transition through development of a 50+ GW project portfolio, one third of which represents floating offshore wind. An industry pioneer, the group is leading project development in new markets, including four projects currently under construction – Changfang Xidao and Zhong Neng in Taiwan, Vineyard Wind 1 in the United States and Jeonnam 1 in Korea. COP also specializes in system integration capabilities, including power-to-x. The group’s expert team are advancing projects across 17 offices in Europe, Asia Pacific, and the Americas. COP is a proudly independent company owned by its management. Learn more at www.cop.dk.

 

About Vineyard Offshore 

Vineyard Offshore is leading the development of two lease areas in the Northeast, in addition to a recently acquired lease in Northern California, OCS-P 0562. Lease area OCS-A 522, known as Vineyard Northeast, is located off the coast of Massachusetts. OCS-A 544, known as Vineyard Mid-Atlantic, is located in the New York Bight. All three lease areas are owned by funds managed by Copenhagen Infrastructure Partners (CIP). Combined with its joint venture development of the first-in-the-nation offshore wind project, Vineyard Wind, now under construction, Vineyard Offshore has the potential to develop more than 6 gigawatts of clean, renewable and affordable energy on the East and West Coasts of the United States.  To learn more, visit: www.vineyardoffshore.com. 

 

About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

CIP manages ten funds and has to date raised approximately EUR 26 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has approximately 400 employees and 12 offices around the world. For more information, visit www.cip.com.

 

 

Jeonnam 1 Offshore Wind Project in Korea Reaches Financial Close and Begins Onshore and Offshore Construction

Posted on: October 11th, 2023 by Jason Weight No Comments

October 11, 2023 – Seoul / Copenhagen:

Jeonnam 1 – a 99-MW offshore wind farm off the coast of Shinan County, Jeonnam Province in the southwest of Korea – reached financial close in early 2023. The project is on track with construction activites and is expected to reach completion by the end of 2024.

Jeonnam 1 is a joint venture between SK E&S, one of the largest conglomerates in South Korea and Copenhagen Infrastructure Partners (“CIP”) through its fund Copenhagen Infrastructure III (“CI III”). The project has been developed by a joint team comprised by Copenhagen Offshore Partners (COP), a global leader in offshore wind development and construction and the exclusive offshore wind development partner to CIP, and SK E&S.

Jeonnam Offshore Wind Power was founded in 2020 and is expected to become the first Korean commercial scale offshore wind farm to go into operation in 2024. The project is a 51-49 joint venture between SK E&S and Copenhagen Infrastructure Partners (CIP).

In association with SK E&S and CIP, COP will also be involved in the planning and construction for Jeonnam 2 and Jeonnam 3, two offshore wind projects with a total capacity of 800MW currently in the development phase. Jeonnam 1, 2 and 3 will support Korea’s ambitious target of reaching 14.3 GW of offshore wind power by 2030, a significant increase compared to the existing 0.1GW installed today.

Jeonnam Offshore Wind Power obtained an Electricity Business License in 2017 and entered a grid connection agreement with KEPCO, the state-owned utility in South Korea, allowing the project to connect to the grid during 2024. In 2022, Jeonnam 1 was awarded a 20-year fixed-price offtake agreement with Korea Hydro & Nuclear Power through Korea’s first wind offtake auction.

Throughout 2022, the project also signed manufacturing and construction contracts with Korean suppliers including Hyundai Engineering and Steel Industries, Hyundai Electric and Gaon, KT Submarine and LS Cable and System. The project will utilize Mokpo New Port as marshalling port throughout construction, given the port’s ideal location near the Jeonnam 1 site.

Jeonnam 1 COO and partner at COP, Jesper Krarup Holst commented, “We are delighted to reach this milestone and enter the construction phase together with our JV partner and the project team. Together, we have demonstrated the power of close collaboration across companies and cultures to resolve tough challenges, to reach financial close, and to support Korea in its efforts to achieve their ambitious renewable energy goals.”

Jeonnam 1 CEO, Daniel Yun said “SK E&S is proud to be leading the offshore wind industry in Korea with this landmark project. Jeonnam 1 is expected to provide green electricity equivalent to approximately 60,000 households in Korea.”

Torsten Lodberg Smed, senior partner at CIP, said: “Korea has a vast potential for offshore wind and CIP has, since entering the Korean market in 2018, invested significantly in developing the country’s wind power projects in multi-giga watts scale and its supply networks and foster a strong industry ecosystem. We are proud to have reached financial close and entering the construction phase on Jeonnam 1 and we look forward to completing this landmark project together with our partners.”

 

 

About Copenhagen Offshore Partners

Copenhagen Offshore Partners (COP) is a world leader in offshore wind project origination, development, and construction. COP is accelerating the energy transition through development of a 50+ GW project portfolio, one third of which represents floating offshore wind. An industry pioneer, the group is leading project development in new markets, including four projects currently under construction – Changfang Xidao and Zhong Neng in Taiwan, Vineyard Wind 1 in the United States and Jeonnam 1 in Korea. COP also specializes in system integration capabilities, including power-to-x. COP’s expert team are advancing projects across 17 offices in Europe, Asia Pacific, and the Americas.

In Korea, COP is developing the Jeonnam 1, 2, and 3 projects as well as an additional 9 projects including Ulsan Haewoori floating offshore wind projects (3 x 500MW), Shinan projects (4 x 500MW) and 2 Younggwang projects (2 x 500MW). Seven of these (3.5GW) have already obtained an electricity business license and are advancing through EIA activities.

COP is a proudly independent company owned by its management. Learn more at www.cop.dk

 

About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

CIP manages ten funds and has to date raised approximately EUR 26 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has approximately 400 employees and 12 offices around the world. For more information, visit www.cip.com