Democratic Party Climate Crisis Response Committee Visits Nakwol Offshore Wind Power Site for Stakeholder Dialogue

The Democratic Party of Korea's Climate Crisis Response Committee (Standing Co-Chairman: Representative Wi Seongon) visited the site of the Nakwol Offshore Wind Power Project in Yeonggwang, Jeollanam-do at 2:00 p.m. on May 18 as part of its "Listening Tour" and held a meeting with project stakeholders.

This visit was prompted by the growing importance of offshore wind power in line with the Democratic Party’s presidential campaign pledge to address the climate crisis and build an energy superhighway. The Nakwol Offshore Wind Power Project, in particular, is drawing attention as a large-scale initiative with significant economic and social implications.

The Nakwol Offshore Wind Power Project, currently under development with a capacity of 364.8MW?the largest in Korea?holds a symbolic position among offshore wind projects under construction and operation. It has played a leading role throughout the entire project cycle, from securing local acceptance to EPC and project financing.

As of May 2025, the total operating capacity of offshore wind power in Korea stands at only 224.5MW. When the Nakwol Offshore Wind Power Project is completed in the second half of 2026, Korea’s offshore wind power generation capacity will more than double compared to the current level.

On this day, the Climate Crisis Response Committee held a meeting at the Nakwol Offshore Wind Power Project’s site office with representatives from Myungwoon Industrial Development (President: Jung Jongyoung), Samhae ENC, Hoban Industries, and Toseong Construction to discuss the progress of the project and listen to related suggestions.

The Nakwol Offshore Wind Power Project obtained its power generation business license in January 2019, completed the necessary permitting procedures, and was selected in the Ministry of Trade, Industry and Energy’s long-term fixed-price competitive bidding in December 2023. Full-scale construction began in March 2024, and as of now, the overall progress rate has reached 45%.

Samhae ENC, responsible for offshore construction, recently used the wind turbine installation vessel Hansan 1 to successfully install two monopiles manufactured by GS Entec in the project area off the coast of Yeonggwang, demonstrating smooth progress toward completion in 2026.

In addition, the installation of submarine power cables is proceeding stably in collaboration with domestic specialized companies, using the dedicated installation vessel PALOS owned by Taihan Electric Wire.

In the power grid facilities sector, Hoban Industries is in charge of constructing substations and switching stations and has made significant progress, with completion expected in the near future.

This project is being carried out safely and efficiently both offshore and onshore, and partial commercial operation with a capacity of 100MW is scheduled to begin in the fourth quarter of this year.

Wi Seongon, the Standing Co-Chairman, Yang Yiwoonyoung, the Co-Chair, and other committee members who visited the site pledged cooperation at the National Assembly level to ensure the smooth progress of the Nakwol Offshore Wind Power Project. They also emphasized the need to expand resident participation and benefit-sharing to promote coexistence with the local community.

In response, representatives of the Nakwol Offshore Wind Power Project identified several challenges for the activation of offshore wind power, including the expansion of hinterland port facilities, public guarantees for project financing, support from state-run banks, and securing price competitiveness for large turbines.

The committee members also expressed interest in compensation for fishermen, the creation of a regional development fund, and the introduction of a bond-type resident benefit-sharing system. They reiterated the importance of ensuring that renewable energy projects grow together with local communities.

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