Jeonnam Development Corporation, Gwanglim to Cooperate on Joint Development of 160-MW Yeonggwang Offshore Wind Project

Project with an estimated cost of about 800 billion won
Discuss permitting and project participation plans

Jeonnam Development Corporation and Gwanglim will discuss permitting and joint development plans for the “Future of Yeonggwang” offshore wind power project, which is being pursued in waters near Yeonggwang County. The project has a planned capacity of 160 MW and an estimated cost of about 800 billion won.

Jeonnam Development Corporation said it signed a memorandum of agreement (MOA) with Gwanglim on October 21 to cooperate on the project’s joint development. The agreement gives specific form to the cooperation outlined in a joint development memorandum of understanding (MOU) signed in August.

Jeonnam Development Corporation signed a memorandum of agreement (MOA) with Kwanglim on the 21st to cooperate on joint development. (From left: Jang Chungmo, president of Jeonnam Development Corporation, and Hwang Taeyoung, CEO of Kwanglim Co., Ltd.) Photo courtesy of Jeonnam Development Corporation.

The two organizations agreed to cooperate on permitting and consultations with relevant agencies, and to discuss plans for joint development and participation in the project. They will also review the possibility of attracting a national offshore wind demonstration project and linking it with existing power generation projects.

In particular, they plan to continue examining whether they can attract a national demonstration project for domestically produced 20 MW-class offshore wind turbines in connection with the “Future of Yeonggwang” project.

Jeonnam Development Corporation is pursuing offshore wind power projects with capacities of 400 MW in Wando and 323 MW in Sinan, and operates the 4.3 MW Yeonggwang Yaksu offshore wind farm. It is also involved in onshore wind and solar power generation, as well as long-duration energy storage system (ESS) projects.

Jang Chungmo, president of Jeonnam Development Corporation, said, “This agreement lays the groundwork for future joint development,” adding, “We will work to begin construction as early as possible.”

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