DL Energy and Korea Midland Power to develop 160 MW facility
The city of Yeosu announced Wednesday that the Yeosu Geumodo offshore wind power project — developed by DL Energy and Korea Midland Power — has been selected in the Ministry of Climate, Environment and Energy's first-half 2026 competitive bidding round for offshore wind fixed-price contracts.
The project is one of five nationwide projects chosen in the government's selection round, totaling 1,786 MW. It marks the first time a private offshore wind power project in Yeosu has been designated for a government fixed-price contract, and the city expects the selection to accelerate the project's development.
The Yeosu Geumodo offshore wind farm will be built in waters near Geumodo in Yeosu's Nam-myeon at a capacity of 160 MW. Following the selection, the developer plans to sign a renewable energy certificate (REC) purchase agreement with a supply obligator in the second half of this year.
Under the fixed-price contract system, the government selects project developers through competitive bidding, ensuring they can secure stable long-term revenue. The arrangement is expected to lay a solid foundation for the project's progress and significantly expand domestic supply chain participation.
"This selection is a meaningful achievement that again confirms the growth potential and competitiveness of Yeosu's offshore wind industry," a city official said. "We will continue to support private and public-led projects so they can generate mutual synergy, and we will do our utmost to achieve RE100 through the development of a 9 GW offshore wind complex."
In August 2024, Yeosu was selected for the Ministry of Trade, Industry and Energy's publicly led large-scale offshore wind complex development support project. The city is investing a total of 8 billion won ($5.17 million) through next year to advance a 3 GW public-led offshore wind complex, and this month completed its application for the offshore wind preliminary zone designation program.
parkds@heraldcorp.com
