Pacifico Energy Korea Secures 420MW Myeongnyang Offshore Wind Power License

Phase 1 of the 3.2GW Jindo Offshore Wind Power Cluster
"Preparing for Phase 2 Manho Offshore Wind Power and Phase 3 Jindo Baram Offshore Wind Power"

Pacifico Energy Korea, a renewable energy company headquartered in the United States, announced on October 1 that the power generation business license proposal for the 420-megawatt (MW) Myeongnyang Offshore Wind Power Project, currently under development in the Maenggoldo-ri offshore area of Jodo-myeon, Jindo-gun, Jeollanam-do, has passed the review by the Electric Power Committee of the Ministry of Trade, Industry and Energy.

With the acquisition of this power generation business license, the Myeongnyang Offshore Wind Power Project has finalized its site boundaries and project capacity, and will now officially begin subsequent permitting procedures. In addition, the development of the 3.2GW Jindo Offshore Wind Power Cluster, which Pacifico Energy Korea is pursuing, is expected to accelerate.

Pacifico Energy Korea is currently developing a 3.2GW offshore wind power cluster in Jindo-gun, Jeollanam-do, consisting of three complexes: Myeongnyang Offshore Wind Power (420MW), Manho Offshore Wind Power (990MW), and Jindo Baram Offshore Wind Power (1.8GW). This is the largest offshore wind power cluster in the Asia-Pacific region being developed by a single company in a single area. The Myeongnyang Offshore Wind Power Project is the first phase of the 3.2GW Jindo Offshore Wind Power Cluster.

To promote the Myeongnyang Offshore Wind Power Project, Pacifico Energy Korea has been holding regular project briefings for local residents and fishermen near the wind farm site since 2022, and has signed an agreement to form a regional council.

At the U.S. Corporate Investment Declaration Ceremony hosted by the Ministry of Trade, Industry and Energy last year, the company announced a KRW 480 billion (USD 348 million) investment in Korea. In June of this year, it signed a business agreement for the development of the offshore wind power industry and the revitalization of the Daebul Industrial Complex with three local governments-Jeollanam-do, Jindo-gun, and Yeongam-gun-as well as regional suppliers.

Pacifico Energy Korea plans to begin ground investigations on the project site in the fourth quarter of this year, and, after completing key permitting procedures such as environmental impact assessments and maritime traffic safety diagnoses, aims to begin construction in 2030 and commence commercial operation by the end of 2033.

Choi Seungho, CEO of Pacifico Energy Korea, stated, "With the acquisition of the power generation business license for the Myeongnyang Offshore Wind Power Project, we have taken the first step toward establishing the 3.2GW Jindo Offshore Wind Power Cluster, the largest in the Asia-Pacific region." He added, "We will accelerate the development of the second phase, the Manho Offshore Wind Power Project, and the third phase, the Jindo Baram Offshore Wind Power Project."

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