Jeonnam 1

Jeonnam 1 Wind Farm Profile

Location and Project Overview

• The Jeonnam 1 wind farm is located offshore of Shinan County, Jeonnam Province in the southwest of South Korea.

Developers and Ownership

• The project is being developed by a joint venture between SK E&S, one of the largest conglomerates in South Korea, and Copenhagen Infrastructure Partners (CIP) through its fund Copenhagen Infrastructure III (CI III). SK E&S holds a 51% ownership stake, while CIP holds 49%.

Capacity and Phases

• The Jeonnam 1 wind farm has a capacity of 99 MW and is the first phase of a larger project. It is part of a three-phase development that includes Jeonnam 2 and Jeonnam 3, with the latter two phases having a combined capacity of 800 MW.

Construction and Timeline

• Construction on the Jeonnam 1 project began in early 2023, following the achievement of financial close in January 2023. Turbine installation started in September 2024. The project is expected to be completed by the end of 2024, with full commercial operations anticipated in the first quarter of 2025.

Contractors and Suppliers

• Several South Korean and international companies are involved in the construction and supply chain:
  • Siemens Gamesa Renewable Energy is supplying turbines with a 10MW nameplate capacity.
  • CS Wind is providing the towers for the project.
  • Hyundai Engineering and Steel Industries (HESI) is responsible for foundation design, supply, transportation, and installation.
  • KT Submarine Co Ltd is handling offshore cable supply and installation.
  • Hyundai Electric Systems Co Ltd and Gaon Cable Co Ltd are involved in onshore works.
  • Mokpo New Port is being used as a marshalling port for the assembly process.

Power Purchase Agreement

• The power generated from the Jeonnam 1 wind farm will be sold to Korea Hydro & Nuclear Power under a 20-year fixed-price offtake agreement, secured through South Korea’s first wind offtake auction in 2022.

Grid Connection

• Jeonnam Offshore Wind Power obtained an Electricity Business License in 2017 and entered a grid connection agreement with KEPCO, the state-owned utility in South Korea, allowing the project to connect to the grid during 2024.

Impact and Milestones

• The project achieved its first power milestone in November 2024, marking a significant step in South Korea’s offshore wind industry. Once operational, Jeonnam 1 will provide green electricity to approximately 60,000 households.
• The project is contributing to the local economy by engaging local suppliers and utilizing local ports and facilities for manufacturing and construction.

National Renewable Energy Goals

• The Jeonnam 1 wind farm is part of South Korea’s ambitious renewable energy goals, aiming to increase the share of renewables in the energy mix from 7% to 26% by 2034. Specifically, the country targets 14.3 GW of offshore wind power by 2030 and carbon neutrality by 2050.

This project sets a precedent for future offshore wind developments in South Korea, leveraging a favourable legal and regulatory framework, an experienced local supply chain, and significant international investment.