KHNP Consortium Wins Bid for 800MW Korean Offshore Wind Project

South Korea has taken another step in expanding its offshore wind industry after a consortium led by Korea Hydro & Nuclear Power (KHNP) was selected as the preferred bidder for the 800MW Phase 1 development of the Jeonbuk Southwestern Offshore Wind Expansion Complex.

The selection follows a tender process organized by Jeonbuk State and positions the KHNP-led consortium to deliver the first phase of a planned 2.4GW offshore wind development off the coast of Buan County. As a publicly led project, the tender required public organizations to retain a majority stake, with more than 50 percent ownership.

KHNP said the consortium secured preferred bidder status following a detailed assessment that considered public value, project execution capabilities, and proposals to support regional economic development. The consortium is made up of nine companies spanning the energy, manufacturing, financial, and maritime industries: Hanwha Ocean, Doosan Enerbility, Korea East-West Power, KEPCO KPS, KEPCO Engineering & Construction, IBK Financial Group, KB Financial Group, Samil C&S, and Jungang Ocean Heavy Industries.

The selection of the preferred bidder is a significant achievement that recognises KHNP’s capabilities in renewable energy development and its commitment to public interest,” said KHNP President Kim Hoe-Cheon.

According to KHNP, the consortium plans to sign an implementation agreement with Jeonbuk provincial authorities before the end of August. Once the agreement is finalized, the project will advance into the detailed planning and development stage.

The Jeonbuk region is considered one of South Korea’s key offshore wind hubs and forms part of the country’s broader strategy to expand renewable energy generation while reducing dependence on imported fossil fuels. With the preferred bidder now confirmed, attention will turn to implementation, regulatory approvals, procurement activities, and preparations for construction.