Hanbando Offshore Wind, a 1,125MW bottom-fixed project located in the Exclusive Economic Zone (EEZ) of Incheon, South Korea, and currently being developed by global offshore wind developer Ocean Winds, has successfully been granted the Electricity Business License (EBL) by the Electricity Regulatory Commission under the Ministry of Trade, Industry, and Energy (MOTIE).

The EBL awarded by MOTIE grants the project exclusive development rights over the designated sea area and secures grid interconnection capacity, marking a significant milestone in the project’s development. With the EBL now secured, Hanbando Offshore Wind will initiate the Environmental Impact Assessment and other key permitting processes, carry out site investigations, and commence major engineering studies.

Through this project, Hanbando Offshore Wind aims to contribute to the South Korean government’s renewable energy targets as outlined in the 11th Electricity Supply and Demand Plan, which sets a goal of achieving 125.9 GW by 2038. In addition, the project is expected to support Incheon Metropolitan City’s ambition to develop 6.2 GW of offshore wind capacity by 2030.

Guzman Figar, Ocean Winds’ Country Manager for South Korea, stated, “We are seeing substantial progress for offshore wind in South Korea in recent weeks, with the publication of the 11th Energy Basic Plan, which increases long-term renewable energy targets, and the approval of the Special Act on Offshore Wind. At Ocean Winds, we believe that Hanbando Offshore Wind, which connects directly to the Seoul–Incheon metropolitan area—one of the largest load centers in the world—will play a key role in supporting South Korea in achieving these objectives.”