Ørsted has announced its intentions to develop a total of 1.6 GW of offshore wind energy projects off the coast of Incheon City, South Korea. The announcement was made in a meeting with National Assembly members, political figures, and key industry leaders of the country. The projects are expected to provide clean energy to 1.4 million households and reduce carbon emissions by about 4 million metric tons per year. They are expected to be installed more than 70 km off the main parts of Incheon City. These areas have shallow water depths which will allow for cost-effective development. The projects are expected to be commissioned by 2026 subject to permits, off-take agreements, and the final investment decision.
Earlier this year, the Danish wind energy company had installed four floating light detection and ranging (LiDAR) systems in the project site to collect relevant data for offshore wind deployment. The current proposal is set to boost South Korea’s progress towards achieving 12 GW of offshore wind capacity by 2030. The country also aspires to reach the climate goal of net zero emissions by 2050.
In November 2020, Ørsted and Shell signed purchase power agreements for 2.4 GW of capacity from the Dogger Bank A and B offshore wind farms off the coast of north-east England. The company currently provides offshore wind energy to 15 million people across the globe. It aims to increase this figure to 30 million by 2025.