Orsted Gets License for South Korea Offshore Wind Project

By Christian Moess Laursen

Orsted said it has received a 1.6 gigawatt electricity business license for an offshore wind project in South Korea, which is set to become the largest in the country.

The Danish wind power developer said Thursday that the business license grants it exclusive development rights for the Incheon project, located 70 kilometers off the coast of Incheon city.

The project is expected to be completed in early 2030s, subject to a final investment decision following environmental impact assessments, site investigations, and preparations for participating in South Korea's annual fixed-price wind auction.

Orsted said the project has the capacity to provide renewable energy to more than a million Korean households while reducing carbon emissions by around 4 million metric tons annually.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

November 30, 2023 03:24 ET (08:24 GMT)

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