Danish offshore wind farm developer Ørsted on Tuesday said it would develop South Korean offshore wind projects with a potential capacity of up to 1.6GW off the coast of Incheon City.
Ørsted said its 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.
Earlier this year, Ørsted deployed 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.
Matthias Bausenwein, President of Ørsted Asia Pacific, said: "Ørsted's projects in Incheon will support a thriving offshore wind industry in South Korea and contribute to the realization of the government's target of 12GW offshore wind capacity by 2030."
Ørsted's offshore wind projects will be located more than 70km from the main parts of Incheon City and have relatively shallow water depths at the target project site. Ørsted said these factors would allow for a cost-effective development.
Subject to permits, off-take agreement with a Korean energy utility, and final investment decision, the projects could be commissioned from 2026 onwards.