EDF Renewables has acquired 100% of Shell Overseas Holdings’ shares in 1500MW South Korean offshore wind project West Sea Energy 1.
This is an important step for the company, which aims to increase its presence in offshore wind in the Asia-Pacific region, particularly in South Korea, EDF said.
Following this acquisition, the developer will continue to develop the project in Yeonggwang province.
The next step will be obtaining the Electricity Business Licence, planned for 2025.
EDF Renewables has been present in South Korea for two years.
Asia-Pacific director of EDF Renewables Patrick Charignon said: “The acquisition of this project, which is our first investment in South Korea, marks a new step in our development in Asia-Pacific.
“With nearly 15 years of experience in offshore wind and 3.7GW of installed wind and solar capacity in the region, we are determined to support the energy transition through innovative low-carbon projects that create local jobs and respect the environment.”