Danish multinational power company, Ørsted has signed memoranda of understanding (MoUs) with Korean state-owned utilities Korea Southern Power (KOSPO) and Korea Midland Power (KOMIPO) for the development of the 1.6GW Incheon offshore wind project.
According to Ørsted, the Incheon offshore wind project will provide clean energy to 1.3 million households, reduce carbon emissions by almost 4 million metric tons per year, and will stimulate economic growth in Incheon, South Korea.
Under the two MoUs, the companies will support Korea’s net-zero targets and explore areas of collaboration on the Incheon offshore wind project, such as renewable energy certificate (REC) offtake, joint operation and partnerships, as well as technology exchange for offshore wind O&M.
Ørsted, KOSPO and KOMIPO are working to ensure the project gains favour with local residents and fishermen, and plan to minimise the environmental impact of the project on marine life.
