Vina Energy Invests 280 Billion KRW in Korean Offshore Wind Power

Investment Agreement Ceremony Held with the Ministry of Trade, Industry and Energy and KOTRA

At the investment reporting ceremony held on the 24th at the Grand Intercontinental Hotel in Samseong-dong, Seoul, Nitin Apte, CEO of Vina Energy (right), and Ahn Deok-geun, Minister of Trade, Industry and Energy, are taking a commemorative photo. Photo by Vina Energy

Vena Energy, a renewable energy development company headquartered in Singapore, announced on the 24th that it held an investment agreement ceremony together with the Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency (KOTRA).

Accordingly, Vena Energy plans to invest approximately 280 billion KRW (20 million USD) in the Gyeongsangnam-do Yokji offshore wind power project. This project is expected to be developed with a total capacity of 384 megawatts (MW). Vena Energy explained that the Yokji offshore wind project is currently exploring industrial linkage possibilities with the domestic supply chain while preparing communication and coexistence measures with local fishermen.

Vena Energy is also participating in the 500 MW Taean offshore wind power project. This project was selected in the 2024 offshore wind power bid and aims to start construction by the end of next year. It is being carried out in cooperation with Copenhagen Infrastructure Partners (CIP) of Denmark.

Nitin Apte, CEO of Vena Energy, said, "This investment in Korea demonstrates our firm commitment to supporting Korea's energy transition and self-reliance," adding, "We will contribute to creating a more sustainable and resilient energy future through the expansion of renewable energy projects and strengthening regional partnerships."

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