BDI wins 391.8 billion KRW offshore wind power construction contract... "Largest order since company founding"

[Asia Economy Reporter Yoo Hyun-seok] VIDIA announced on the 3rd that it has signed a construction contract worth a total of 391.8 billion KRW with ‘Wando Offshore Wind Power’ regarding the ‘Wando Offshore Wind Power Project’ (installed capacity 148.5MW). This is the largest single construction project since VIDIA’s establishment and the second wind power installation contract following the ‘Gampo Pine Green Wind Power Project’ (installed capacity 92MW) signed in April 2018.

This construction contract is for an offshore wind power project with a capacity of 148.5MW (27 units of 5.5MW each) to be developed offshore in Mangseok-ri, Wando-eup, Wando-gun, Jeollanam-do, with a total project cost reaching 800 billion KRW. VIDIA will participate as a strategic investor and contractor, responsible for foundation civil engineering and substructure works for wind turbine installation (152.9 billion KRW), and power grid connection works for transmission and distribution (238.9 billion KRW).

The Wando Offshore Wind Power Project completed wind resource surveys and resident consent procedures in November 2018 and received power generation project approval from the Ministry of Trade, Industry and Energy. Currently, environmental impact assessments and development permit procedures remain. Construction is scheduled to begin in 2022, with commercial operation expected to start in the first half of 2024.

A VIDIA official stated, “Based on over 30 years of experience in power plant design and construction, we have secured this Wando Offshore Wind Power Project contract,” adding, “Building on this, VIDIA plans to actively participate in various renewable energy projects including onshore and offshore wind power, solar power, and fuel cells.”

He continued, “Recently, the government and private sector jointly announced plans to develop an 8.2GW offshore wind power complex in Sinan, Jeollanam-do by 2030,” and added, “In addition to the Wando Offshore Wind Power Project, VIDIA is pursuing business agreements with specialized companies in offshore wind turbine installation and power grid construction to participate in the Sinan Offshore Wind Power Complex development.”

VIDIA is currently advancing renewable energy power generation projects totaling 187MW, including a 132MW onshore wind power project (Gampo Wind Power 92MW + Jeongseon Imgae Wind Power 40MW), a 42MW solar power project (Imgae 40MW, Haenam 2MW), and a 13MW fuel cell project (Gunsan Soryong Fuel Cell). The detailed construction schedule for the Gampo Wind Power Project is expected to be announced in May.

This content was produced with the assistance of AI translation services.