The award of an electricity business licence is key milestone for RWE as it develops its first Korean offshore wind project.
RWE has been awarded a 495-megawatt (MW) electricity business licence (EBL) by the Ministry of Trade, Industry and Energy of Korea to develop the Seohae offshore wind project, located approximately 45 kilometres off the coast of Taean County in South Korea’s Chungcheongnam province.
The licence grants RWE its first exclusive development rights for offshore wind in Korea since the company opened an office in Seoul in 2021. The award of an EBL, a mandatory requirement that permits companies to generate and supply electricity in Korea, is a significant milestone for RWE in the development of its first Korean offshore wind project. It goes hand in hand with the company’s wider activities to strengthen relationships with local communities, industry and partners in that market.
Sven Utermöhlen, CEO of RWE Offshore Wind, said: “This first Electricity Business Licence is a key milestone in the further development of our Seohae offshore wind project. As RWE, we are dedicated to delivering clean, sustainable renewable energy and helping to achieve Korea’s renewable energy targets. We would like to thank the Korean government and local stakeholders for their trust in us and for supporting our project.”
RWE Renewables Korea will work closely with local communities and Taean County to contribute to the delivery of renewable energy in the region, and provide longer term benefits, including the creation of jobs and opportunities for the local communities, industry and suppliers, who RWE places at the heart of offshore wind development. The next step in the development of the Seohae project is to work with local suppliers to continue engineering and environmental impact assessment studies, engage with the local county and the Korea Electric Power Corporation to plan and secure a grid connection agreement.
RWE has a strong, 20-year track record of developing, building, and operating offshore wind projects, working hand in hand with communities to deliver sustainable, economic benefits today. As a global industry leader, RWE manages the operations and maintenance of a large international portfolio of offshore wind farms.
RWE has established an offshore wind project development pipeline of three gigawatts in Korea which will support the country’s transition to net zero by 2050. RWE’s Korean development portfolio includes the 495MW Seohae project in Taean County, the 510MW Neulsaem Ui project in the waters off Shinan County and the 2GW Hanee Baram project in Incheon. RWE has also established an offshore wind co-development partnership with Hyundai Engineering & Construction.
