Taean Offshore Wind Project Reaches Major Milestone with 500 MW PPA Signings

September 10, 2025 – Copenhagen, Denmark and Seoul, Korea

Taean Wind Power, a joint venture between Vena Energy and Copenhagen Infrastructure Partners (CIP), announced the signing of two landmark Power Purchase Agreements (PPAs) totalling 500 megawatts (MW) with Korea West Power and Gangneung Eco Power on September 2. The agreements cover 300 MW with Korea West Power and 200 MW with Gangneung Eco Power, securing long-term offtake for renewable electricity generated by the Taean Offshore Wind Project. Copenhagen Offshore Partners (COP), a global leader in offshore wind development, construction, and operations and maintenance, is co-leading project development activities for Taean on behalf of the project’s owners. COP is the exclusive offshore wind development partner to CIP. 

As one of South Korea’s most significant offshore wind developments, the 500 MW Taean Offshore Wind Project is committed to advancing Korea’s clean energy transition, supporting national decarbonization goals, and creating opportunities for local supply chain and coastal communities. Kwangjin Cheong, Representative Director of Taean Wind Power said “This PPA signing represents a major milestone for the Taean Offshore Wind Project and South Korea’s renewable energy journey. By securing long-term agreements with Korea West Power and Gangneung Eco Power, we are not only providing reliable clean electricity but also reinforcing our commitment to building a sustainable energy future together with Korea’s communities and industries.” 

Jonathan Spink, COP Korea CEO and CEO of Taean Wind Power “This PPA signing represents more than just a power supply, it is a symbolic milestone in the journey toward South Korea’s decarbonization. We are proud to contribute to Korea’s energy transition, remain committed to delivering reliable and sustainable offshore wind power, and look forward to creating lasting value for the local community while working closely to support and grow together with it.” 

Daniel Astbury, Global Head of Offshore wind at Vena Energy “We would like to sincerely thank the Korean government for its strong support and close cooperation over the past eight months since the fixed-price auction last year. During this period, we have witnessed the government’s clear commitment to accelerating the renewable energy transition, as well as the passion and dedication of the project team in general. Vena Energy is dedicated to honouring that confidence by taking a leading role in expanding renewable energy deployment in the Korean market.”  

Thomas Wibe Poulsen, Partner and Head of APAC at CIP stated, “This milestone marks a significant step forward for Korea’s offshore wind industry and highlights the country’s growing contribution to the region’s energy transition. It stands as a testament to the power of strong partnerships and our shared commitment to advancing sustainable energy solutions. CIP will continue to build on the dedication and expertise that made this achievement possible, in close alignment with Korea’s energy transition goals.” 

Taean Wind Power is currently developing a 500 MW offshore wind project in the region, aimed at delivering long-term environmental and economic benefits. The project is expected to revitalize the local economy, create high-quality jobs, and strengthen the regional supply chain. By bringing together leading companies across the offshore wind value chain – from development and supply to construction and operations – the project is expected to provide clean electricity to approximately 300,000 households annually. 

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