Steel specialist POSCO Group has signed a memorandum of understanding with Orsted to jointly develop the 1400MW Incheon offshore wind farm, Korea.
The agreement, signed at POSCO Center in Seoul, sets out plans for collaboration across the supply chain, from the supply of high-strength steel to construction, offshore installation, and long-term operations and maintenance.
Orsted secured a generation licence for the Incheon project in 2023. The partners will now form a joint working group to advance detailed cooperation and accelerate delivery of the scheme.
POSCO said the partnership will strengthen the competitiveness of Korea’s offshore wind industry and expand the national supply of renewable energy.
Lee Ju-tae, CEO of POSCO Holdings, said the group would consolidate its expertise across the domestic supply chain to enhance the sector’s growth.
Orsted’s Asia Pacific representative Per Mejnert Kristensen said the collaboration would maximise synergies by combining POSCO’s technology with the developer’s offshore wind experience.
The project is expected to play a central role in Korea’s energy transition, with POSCO also pursuing wider decarbonisation initiatives including hydrogen steelmaking and expansion into low-carbon power sources.
Picture: From left: Lee Ju-tae, CEO of POSCO Holdings, and Per Miner Christensen, Orsted Asia Pacific President.