South Korea has awarded Germany’s top utility RWE a 495 MW Electricity Business License (EBL) to develop the Seohae offshore wind project, off the coast of Taean County in South Korea’s Chungcheongnam Province.
The license, awarded by the Ministry of Trade, Industry & Energy of Korea, grants RWE its first exclusive development rights for offshore wind in the country since the company opened an office in Seoul in 2021.
The award of an EBL, a mandatory requirement that permits companies to generate and supply electricity in Korea, is a significant milestone for RWE in the development of its first Korean offshore wind project.
The next step in the development of the Seohae project is to work with local suppliers to continue Engineering and Environmental Impact Assessment studies, engage with the local county and the Korea Electric Power Corporation (KEPCO) to plan and secure a grid connection agreement.
“This first EBL is a key milestone in the further development of our Seohae offshore wind project. As RWE, we are dedicated to delivering clean, sustainable renewable energy and helping to achieve Korea’s renewable energy targets. We would like to thank the Korean government and local stakeholders for their trust in us and for supporting our project,” said Sven Utermöhlen, CEO of RWE Offshore Wind.
RWE has established an offshore wind project development pipeline of 3 GW in Korea which will support the country’s transition to net zero by 2050.
RWE’s Korean development portfolio includes the 495 MW Seohae project in Taean County, the 510 MW Neulsaem Ui project in the waters off Shinan County and the 2 GW Hanee Baram project in Incheon.
The utility has also established an offshore wind co-development partnership with Hyundai Engineering & Construction.