South Korea: Korea Midland Power Company (KOMIPO) is investing $65 M (KRW 96.1 B; €56 M) in the 390 MW Shinan-Ui offshore wind project, located off Sinan County, South Jeolla Province, South Korea. Financing has been finalised, and offshore construction is scheduled to begin in April 2026.
KOMIPO, already a project partner, will acquire 96.1 million new shares in the development. The company will also oversee offshore operations and auxiliary equipment management once the wind farm is operational, ensuring stable performance.
The project is part of the National Growth Fund as its first investment initiative and involves several strategic partners, including Hanwha Ocean leading the consortium, SK Eternix, Future Energy Fund, and Hyundai Engineering & Construction.
In December 2025, the consortium awarded Vestas a contract to supply 26 V236-15.0 MW offshore turbines, marking the Danish manufacturer’s first offshore wind order in South Korea. A 20-year service agreement was signed alongside the supply contract. Turbine deliveries are scheduled to begin in 2027, with commercial operation targeted for February 2029.
The Shinan-Ui offshore wind project highlights South Korea’s growing commitment to renewable energy and demonstrates KOMIPO’s role in advancing large-scale offshore wind generation. By combining strategic investment, modern turbine technology, and long-term operational management, the project is expected to contribute significantly to the region’s clean energy capacity and sustainability goals.
Source: Offshore Wind Biz
