Copenhagen Infrastructure Partners (CIP) has signed an agreement to invest $350 million in offshore wind projects in Korea.
CIP has been developing offshore wind projects in South Korea since 2018. The investments from CIP’s Flagship funds will support the development and construction of both fixed-bottom and floating offshore wind projects in the Jeonnam Province. Copenhagen Offshore Partners (COP), the exclusive offshore wind development partner to CIP, is serving as developer.
“The investment of 350 million U.S. dollars will go to development of our offshore wind portfolio in Korea including the advanced 99-megawatt Jeonnam 1 project,” said David Taesung Yoo, co-CEO of COP Korea. “By materializing our gigawatt-scale project, we hope to create momentum in the Korean offshore wind market.”
Korea has a goal of reaching 14.3 gigawatts of offshore wind power by 2030, a significant increase compared to the existing 0.1 gigawatts now installed. Korea has p
