EDF Renewables has acquired 100% of Shell Overseas Holdings Ltd.’s shares in West Sea Energy 1 Co., Ltd., a company exploring the development of a high-power offshore wind project in South Korea. This is an important step for the company, which aims to increase its presence in offshore wind in the Asia-Pacific region, particularly in South Korea.
EDF Renewables acquires its first offshore wind project in South Korea, in Yeonggwang province. Following this acquisition, the company will continue to develop the project, with a maximum capacity of 1.5 GW. The next step will be obtaining the “Electricity Business License”, planned for 2025.
EDF Renewables has been present in South Korea for two years. This acquisition represents an important milestone for EDF Renewables in the country, in line with its strategy to increase its presence in offshore wind in the Asia-Pacific region, and in particular in South Korea.
EDF Renewables is an international energy company that develops, builds and operates renewable energy power plants. A major player in the global energy transition, EDF Renewables deploys competitive, responsible and value-creating projects within EDF. With over 15 years of expertise in offshore wind energy, EDF Renewables operates 9 offshore wind farms worldwide and is building 3 others, based on fixed or floating foundation technologies.
Patrick Charignon, Asia-Pacific Director of EDF Renewables, said: "The acquisition of this project, which is our first investment in South Korea, marks a new step in our development in Asia-Pacific. With nearly 15 years of experience in offshore wind and 3.7 GW of installed wind and solar capacity in the region, we are determined to support the energy transition through innovative low-carbon projects that create local jobs and respect the environment."