• Ocean Winds has successfully been granted Electricity Business License (EBL) after review by the Electricity Regulatory Commission under MOTIE for its 1,125MW Hanbando Offshore Wind Project.
• With the EBL secured, the company will launch the Environmental Impact Assessment, site investigations and key engineering studies.

(March 7th, 2025) Hanbando Offshore Wind, our 1,125MW bottom-fixed project located in the Exclusive Economic Zone (EEZ) of Incheon, South Korea, 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 sea space and reserves interconnection capacity and marks a new step forward in the project development. With EBL now secured, Hanbando Offshore Wind will launch the Environmental Impact Assessment and other key permits, conduct site investigations and initiate the main engineering studies.

Through this project, Ocean Winds aims to strengthen its contribution to the South Korean government’s renewable energy deployment target outlined in the Korea’s 11th Electricity Supply and Demand Plan of achieving 125.9 GW by 2038. Additionally, the company plans to contribute to the goal of Incheon Metropolitan City, which aims to develop 6.2 GW of offshore wind power 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 the last weeks, with the publication of the 11th Energy Basic Plan which increases the long-term renewable energy targets for the country, and with the approval of the Special Act on Offshore Wind. At OW, we believe that our Hanbando project, 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 achieve these objectives.”