Korea Hydro consortium named preferred bidder for 800 MW offshore wind project

A consortium led by Korea Hydro & Nuclear Power, with nine other major companies including Korea East-West Power and Kepco Plant Service & Engineering, has been named the preferred bidder for an 800-megawatt public offshore wind project in the country's southwest, Korea Hydro & Nuclear Power announced Sunday.

The project involves developing an 800 MW offshore wind farm as part of a larger 2.4-gigawatt wind complex in waters off Buan-gun, North Jeolla Province. Public institutions are required to hold a stake of at least 50 percent as a condition of participation in the tender.

Korea Hydro & Nuclear Power formed the consortium with Korea East-West Power, Kepco Plant Service & Engineering, Korea Power Engineering, Hanwha Ocean, Doosan Enerbility, IBK Financial Group, Samil C&S and Jungang Maritime Heavy Industries, among others.

The consortium received high marks during the selection process for its public-interest credentials, project execution capacity and plans for regional cooperation, the company said.

The consortium plans to sign an implementation agreement with North Jeolla Province by the end of August and proceed with the project.

"We will work closely with North Jeolla Province, local communities and our partner companies to faithfully carry out the government's offshore wind deployment policy, and push this forward as a model project that contributes to nurturing the domestic wind industry and revitalizing the regional economy," Korea Hydro & Nuclear Power President Kim Hoe-cheon said.