Jeonnam 1 Offshore Wind Project Achieves First Power

November 18, 2024 – Seoul, Korea and Copenhagen, Denmark

The Jeonnam 1 Offshore Wind Project in Korea has achieved first power, marking a significant milestone on Korea’s path towards energy independence and its net-zero goals. Copenhagen Offshore Partners (COP), a global leader in offshore wind development and construction, has co-led project development activities for Jeonnam 1 on behalf of the project’s owners, a joint venture spearheaded by Copenhagen Infrastructure Partners (CIP), through CIPs fund Copenhagen Infrastructure III (“CI III”), and SK Innovation E&S, one of the largest conglomerates in South Korea. COP is the exclusive offshore wind development partner to CIP. 

Jeonnam 1 is a 96 MW offshore wind farm under construction in Shinan county off the southwest coast of Korea. It is the first privately-led large-scale offshore wind power project in Korea and the third project in APAC COP has been leading through construction this year. Construction on Jeonnam 1 started in early 2023, with turbine installation commencing in September 2024 and commercial operations expected in Q1 2025. When fully operational, Jeonnam 1 can provide green electricity to power approximately 60,000 households. 

The first power milestone was celebrated today with a visit to the wind farm by Korean Prime Minister Han Duck-soo. The Prime Minister inspected the power plant by helicopter, toured the wind turbine pre-assembly harbour, and held a meeting with industry officials and the project’s partners.  

“Reaching this stage in the development of the Jeonnam 1 Offshore Wind Project marks a pivotal moment for COP and our project partners,” stated Jesper Krarup Holst, COP Partner, Head of APAC and COO of the Jeonnam 1, 2 and 3 portfolio. “We have one of the best teams in this business. I’d like to extend special appreciation to our construction team who have worked tirelessly and achieved a timely delivery of this very important project in Korea.” 

Jeonnam 1 has been developed with a local growth mindset. COP and project partners have worked closely with the local community, businesses, and stakeholders to share development profits which are contributing to the revitalisation of domestic jobs and industry, while also supporting the buildout of Korea’s national offshore wind industry. The project has multiple manufacturing and construction contracts with Korean suppliers as well as the use of local ports and facilities, supported both local communities and the domestic offshore wind power industry in South Korea. 

“This achievement is a testament to the hard work and dedication of our team, partners and local stakeholders,” added David Taeseung Yoo, COP Korea Co-CEO. “We are now focused on safely completing construction for Jeonnam 1 and continuing to develop our GW scale portfolio of offshore wind across the country.” 

COP is leading development of a multi-gigawatt portfolio of offshore wind projects in Korea on behalf of CIP. In addition to Jeonnam 1, this includes planning and construction for Jeonnam 2 and Jeonnam 3 with a total capacity of 800MW, and the 1.5 GW Haewoori floating offshore wind project. All of these projects are being developed in close coordination with local stakeholders and the Korean government to achieve their goals to deploy 14.3 GW of offshore wind power by 2030.  

 

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 recently completed or currently under construction – Changfang and 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 is advancing projects across 15 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 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 focus 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     

 

About SK Innovation E&S  

SK Innovation E&S is Korea’s largest private renewable energy company, dedicated to the development and expansion of the renewable energy sector. With comprehensive projects ranging from offshore wind to solar and biomass, SKI E&S is advancing the country’s green energy agenda through innovation and strategic partnerships. 

For further information, visit www.skieng.com