Ørsted is currently developing the 1.47 GW Incheon offshore wind projects, located approximately 70 km off the coast of Incheon, while pursuing various optimization measures to enhance the projects’ competitiveness and lay the foundation for long-term success in Korea. Guided by its principles of decarbonization, coexistence with nature, and creating value for local communities, Ørsted is advancing its projects in close collaboration with local stakeholders, with their safety as its highest priority. Once completed, the projects are expected to generate enough renewable electricity to power approximately 1.4 million Korean households, while delivering long-term economic and social value to the Incheon region and supporting the Korean government’s offshore wind targets and South Korea’s goal of achieving carbon neutrality by 2050.
Under the agreement, the two companies will combine Ørsted’s extensive experience and technological leadership in developing large-scale offshore wind projects with YoungIn Energy Solution’s expertise in Korea’s power system and engineering environment. Together, they will advance transmission infrastructure design and grid connection strategies for the Incheon Offshore Wind projects.
YoungIn Energy Solution is a Korean company that has played a leading role in offshore wind, building on its extensive technical expertise in the power sector. By combining Ørsted’s global technological leadership in offshore wind with YoungIn Energy Solution’s local expertise, the partnership is expected to reinforce the technical foundation for the Incheon Offshore Wind projects and, over the longer term, enhance the competitiveness of Korea’s offshore wind engineering ecosystem and supply chain.
David Taeseung Yoo, Country Manager of Ørsted Korea, said:
“This agreement is particularly meaningful as it brings together the respective expertise of Ørsted and Youngin Energy Solution in electrical system design, the heart of an offshore wind farm, to support reliable grid connection for the Incheon Offshore Wind projects. As Ørsted advances its offshore wind projects in Korea, we are building close partnerships with Korean companies and maintaining ongoing engagement with relevant authorities, while moving forward with key steps toward project delivery, including the permitting process and preparation for participation in offshore wind tenders. We also expect this partnership to help drive the growth of Korea’s offshore wind engineering sector and strengthen the competitiveness of its supply chain.”
Jonghwa Kim, President of Youngin Energy Solution, added:
“We are delighted to collaborate with Ørsted, one of the world’s leading offshore wind developers, and hope to contribute through this agreement to strengthening the competitiveness of Korea’s offshore wind supply chain. We expect to generate significant synergies by combining Ørsted’s extensive global offshore wind experience and Youngin Energy Solution’s expertise in Korea’s power grid.”