Danish clean energy specialist Ørsted has signalled its intention to develop South Korean offshore wind projects off the coast of Incheon City with a potential capacity of up to 1.6GW.
Ørsted’s projects in Incheon could provide clean energy to 1.4m South Korean households and reduce carbon emissions by almost 4m metric tons per year.
Martin Neubert, executive vice president and CEO of Ørsted Offshore, said: “The prospects of contributing to South Korea’s transition to renewable energy is a great inspiration for Ørsted. With strong industrial capabilities, significant supply chain potential, and numerous sites with promising offshore wind conditions, South Korea has a fantastic starting point for becoming a leading offshore wind market.”
Ørsted’s offshore wind projects will be located more than 70km from the main parts of Incheon City and have relatively shallow water depths. Subject to relevant approvals and a final investment decision, the projects could be commissioned from 2026 onwards.
South Korean president Moon recently announced a target of achieving net zero emissions by 2050.