Jeonnam 1 Offshore Wind Project Begins Commercial Operations

May 21, 2025 – Copenhagen, Denmark and Seoul, Korea 

The Jeonnam 1 Offshore Wind Project, Korea’s largest private offshore wind farm, has officially commenced commercial operation, marking a significant milestone in the development of Korea’s offshore wind industry. Copenhagen Offshore Partners (COP), a global leader in offshore wind development, construction, and operations, has co-led project development activities for Jeonnam 1 on behalf of the project’s owners, a joint venture by Copenhagen Infrastructure Partners (CIP) and SK Innovation E&S. COP is the exclusive offshore wind development partner to CIP.

Located 9 km northwest of Jaeundo in Shinan County, Jeonnam Province, Jeonnam 1 is the largest privately led offshore wind power project in Korea, with a capacity of 96MW. Installation of the 10 wind turbines was completed in December 2024, followed by commissioning earlier this year, and the project is now in commercial operation. Jeonnam 1 is expected to produce 301 million kWh of electricity annually—enough to power about 90,000 Korean households for one year. Compared to traditional power sources of equivalent capacity, it is projected to reduce approximately 125,600 tons of carbon emissions per year. 

“This project exemplifies how strong collaboration and innovative financing can unlock Korea’s offshore wind potential,” said Jonathan Spink, COP Korea CEO. “We are proud to support the development of sustainable energy infrastructure that not only drives economic growth but also helps Korea meet its ambitious climate goals. It’s a historic step toward a cleaner, more resilient energy future for the country.” 

Significantly, this project marks the first large-scale offshore wind project in Korea led by the private sector, and it adopted a non-recourse project financing model, where funding was raised based on the project’s creditworthiness without additional guarantees. It is also recognized as a successful example of effective public-private cooperation, having navigated and resolved numerous regulatory hurdles from construction to commercial operation. 

“Achieving this milestone is a significant step forward in our efforts to expand renewable energy in the region,” said Jesper Krarup Holst, COP Partner and Head of APAC, and COO of the Jeonnam 1, 2 and 3 portfolio. “We remain committed to supporting the development of sustainable solutions that create local value, strengthen supply chains, and contribute to Korea’s energy independence and climate commitments.” 

Jeonnam 1 collaborated closely with domestic supply chain partners and contributed to local economic revitalization through engagement with local communities and the use of regional ports and infrastructure. The project showcases the potential for sustainable growth in Korea’s offshore wind market. The project also successfully localized key components and installation equipment through partnerships with Korean companies, thereby strengthening Korea’s offshore wind supply chain ecosystem and supporting the training and development of skilled professionals in the sector. 

COP and CIP’s greater development pipeline in Korea includes approximately 5 GW of offshore wind projects in Shinan, Ulsan and Taean, including Jeonnam 2 &3, Haesong 1 & 3, Haegum 1 & 2, and Taean Wind Power. 

 

About Copenhagen Offshore Partners  

Copenhagen Offshore Partners (COP) is a world leader in offshore wind project origination, development, construction, and operations. COP is unlocking the full potential of offshore wind to power the world through the development of a 50+ GW project portfolio from Asia Pacific to Europe and the Americas. An industry pioneer, COP is safely and sustainably delivering projects in new and established markets, such as the recently constructed and advanced stage projects Changfang & Xidao and Zhong Neng in Taiwan, Vineyard Wind 1 in the United States, and Jeonnam 1 in Korea. COP also implements new solutions as a first mover or fast follower to open new opportunities through flexible offtake offerings, partnerships, and supply chain solutions. COP is a proudly independent company owned by its management. Learn more at www.cop.dk