Pacifico Energy Partners with Hana Bank and Hana Securities for 3.2GW Jindo Offshore Wind Financial Collaboration

First Collaboration Between Korean Financial Institutions and a U.S. Offshore Wind Developer

(Photo from left) Youngkyun Jung, Head of IB Group at Hana Securities, Seungho Choi, CEO of Pacifico Energy Korea, and Byungsik Lee, Vice President of IB Group at Hana Bank, are taking a commemorative photo after signing a memorandum of understanding (MOU) for mutual cooperation. Pacifico Energy Korea

On June 12, Pacifico Energy Korea, a renewable energy company headquartered in the United States, announced that it has signed a mutual cooperation memorandum of understanding (MOU) with Hana Bank and Hana Securities. The purpose of the MOU is to secure financing and to develop a co-prosperity financial model for the development, construction, and operation of a 3.2-gigawatt (GW) offshore wind power cluster in Jindo.

Under the memorandum of understanding, Pacifico Energy Korea, Hana Bank, and Hana Securities will jointly explore financial solutions and funding arrangements needed for all stages of development, construction, and operation of the 3.2GW offshore wind power cluster that Pacifico Energy Korea is developing in Jindo, South Jeolla Province.

The three companies plan to collaborate across various financial areas including project financing (PF), financial advisory, and investment attraction. In addition, they will work together to develop a co-prosperity financial model for revitalizing Korea’s offshore wind industry and supply chain, as well as to foster the industry ecosystem. The companies also aim to contribute to revitalizing the regional economy and creating jobs in Jindo County and South Jeolla Province, where the cluster is located.

As global supply chain and financial market uncertainties have recently intensified, establishing a stable financing structure is considered a key factor for the success of large-scale offshore wind projects.

Seungho Choi, CEO of Pacifico Energy Korea, stated, "For the success of GW-scale large offshore wind projects, not only a competitive supply chain but also stable and professional financial partnerships are essential. This collaboration between Pacifico Energy Korea, Hana Bank, and Hana Securities is the first case in which a domestic financial institution and a U.S.-based offshore wind developer are jointly building the foundation for growth of Korea’s offshore wind industry."

Byungsik Lee, Deputy Head of IB Group at Hana Bank, commented, "This agreement exemplifies productive finance, in which financial institutions make a substantial contribution to future national challenges such as energy transition and carbon neutrality." Youngkyun Jung, Head of IB Group at Hana Securities, added, "I believe this collaboration demonstrates the direction of productive finance, where the capital market contributes to enhancing the nation’s future competitiveness."

The Jindo offshore wind power cluster is the largest offshore wind cluster in the Asia-Pacific region led by a single developer in a single location.

The first phase of the Jindo offshore wind power cluster, the 420MW Myeongnyang Offshore Wind Power Project, received its power generation business license in September 2025. This year, the project completed its ground survey and the draft of its environmental impact assessment, thus entering the full-scale implementation stage. The second phase, the 990MW Manho Offshore Wind Power Project, and the third phase, the 1.8GW Jindobaram Offshore Wind Power Project, have both completed their applications for power generation business licenses.

This content was produced with the assistance of AI translation services.