Orsted announced its intention to develop South Korean offshore wind projects with a potential capacity of up to 1.6GW off the coast of Incheon City. Earlier this year, Orsted achieved an important milestone by deploying four floating lidars off the coast of Incheon and has progressed well in collecting all relevant data for securing the potential 1.6GW offshore wind sites. Osted's projects in Incheon could provide clean energy to 1.4 million South Korean households and reduce carbon emissions by almost 4 million metric tons per year, thus making significant contributions to the Green New Deal and President Moon's recently announced target of achieving net zero emissions by 2050. In addition, these South Korean flagship projects would bring multitrillion won of investment, generate economic activities and create high-quality jobs.
Many leading South Korean companies have been working with Orsted for offshore wind projects in Europe and Asia, including POSCO Steel, CS Wind, LS Cable, Hyosung, Samkang M&T, Hyundai ESI and EEW Korea. Most recently, Samkang M&T and Hyundai ESI have completed the fabrication of the first jacket foundations for Orsted's Greater Changhua 1 & 2a Offshore Wind Farm in Taiwan, demonstrating effective cross-border partnerships.
With a strong commitment to supporting South Korea's green energy transition, Orsted aims to work with South Korean suppliers and shape a healthy and competitive domestic supply chain that can maintain and expand its export success.