South Korea is about to receive US$350m in investments for offshore wind projects by Copenhagen Infrastructure Partners, according to a recent announcement by the company. CIP is active in the country with offshore wind developments since 2018.
The current projects have already secured commercial permits from the government. The facilities, which are under development by Copenhagen Offshore Partners (COP), will be installed in the Shinan and Yeonggwang counties and the Ulsan region, in the Jeonnam province.
One of the projects to benefit from the announced investment is the advanced Jeonnam 1, an offshore farm with a capacity of 99MW.
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