Pacifico Energy teams with Korean firm to develop foundations for 3.2GW project
Pacifico Energy Korea has signed a memorandum of understanding with HSG Sungdong Shipbuilding to develop and supply foundations for a 3.2GW offshore wind project cluster.
This deal is the first Korea-U.S. partnership for developing, fabricating, and supplying large-scale offshore wind substructures.
Pacifico Energy’s offshore wind project cluster consists of three offshore wind projects – Myeong Ryang Offshore Wind with 420MW capacity, Manho Offshore Wind with 990MW capacity while the last one is the Jindo Baram project with 1.8GW.
Myeong Ryang is the first phase of the cluster development and is scheduled for project completion by 2029 and commercial operation start by 2032.
Pacifico Energy also has a pipeline of over 10GW of offshore wind projects under development in the Asia-Pacific region.
With this MoU, Pacifico Energy and HSG Sungdong will collaborate on the fabrication, supply, and development of substructures for the cluster and develop a long-term strategic partnership in domestic and international offshore wind markets to promote Korean-made, competitive substructures.
This will, in turn, improve the local offshore wind supply chain and create jobs in the city of Tongyeong and surrounding areas.
“Cooperation between offshore wind developers and Korean suppliers is key to success in the development of GW-scale offshore wind projects as well as Korea becoming a green transition hub in the APAC region,” said Seung-Ho Choe, representative director of Pacifico Energy Korea.
