The Canadian energy company Northland Power has secured two Electricity Business Licenses (EBLs) for 1.3 GW of capacity across two offshore wind projects that it is developing in South Korea. Northland Power’s Dado offshore wind project has been awarded EBL for 900 MW of the planned 1 GW capacity, while its 600 MW Bobae offshore wind project has been awarded EBL for 400 MW. Northland Power plans to secure EBLs for the remaining capacity (200 MW). The Dado offshore wind project is located off the city of Yeosu on South Korea’s southern coast, while the Bobae project is located off the island of Jindo in the southwest of the country.
At the end of 2021, offshore wind accounted for less than 1% of South Korea’s installed capacity (136 MW), however the country currently has more than 38 GW of wind projects under development (including over 33 GW of offshore wind projects). South Korea has set a target to reach 12 GW of offshore wind capacity by 2030.
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