Press Release:

Vestas selected as preferred supplier for the 390 MW Shinan Ui offshore wind project in South Korea

News release from Vestas Asia Pacific
Seoul, 29 December 2023

Vestas has signed a preferred supplier agreement with Hanwha Corporation E&C Division for the 390 MW Shinan Ui offshore wind project in Shinan County, South Jeolla Province, South Korea. The project is developed by Shinan Ui Offshore Wind, a special purpose company established by Hanwha Corporation E&C Division, SK D&D, and KOEN.

If the project materialises, it will feature 26 units of V236-15.0 MW turbines, which will be installed on fixed foundations in the southeastern waters of Ui Island. Vestas will also deliver 20 years of operation and maintenance service for the wind farm when it becomes operational.

“We are honoured that our Korean partners, Hanwha Corporation E&C Division, have placed their trust in us and selected us as preferred turbine supplier for the project. We are very much looking forward to working with the customers and providing our V236-15.0 MW offshore turbines for the project.” said Purvin Patel, President of Vestas Asia Pacific. “By further expanding the deployment of our flagship offshore turbine model, V236-15.0 MW, we will actively contribute to the realisation of a decarbonised society of South Korea and continue as a leader in offshore wind”.

Nam Cheol Lee, Head of Wind Power Business at Hanwha Corporation E&C Division, said, "We plan to strengthen our position as a leading company in the field of renewable energy by carrying out large-scale wind power projects that require high quality technology. We expect to expand our business to 3 GW by 2030 based on our accumulated know-how and technology in the wind power generation business".

The V236-15.0 MW offshore wind turbine is built on proven, world-class technology and engineered for efficiency in offshore environments around the world. Vestas has won more than 2.8 GW of firm orders for the V236-15.0 MW for which it secured type certificate in November 2023, and will begin serial production in 2024.

If and when the agreement materialises in a firm and unconditional order for Vestas, it will enter into Vestas’ wind turbine order backlog.

For media inquiries, please contact:
Megumi Sakuma
Marketing & Communications Manager, Vestas Asia Pacific
Tel:  +81 90 6723 5325

About Vestas
Vestas is the energy industry’s global partner on sustainable energy solutions. We design, manufacture, install, and service onshore and offshore wind turbines across the globe, and with more than 173 GW of wind turbines in 88 countries, we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled more than 151 GW of wind turbines under service, we use data to interpret, forecast, and exploit wind resources and deliver best-in-class wind power solutions. Together with our customers, Vestas’ more than 29,000 employees are bringing the world sustainable energy solutions to power a bright future.

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About Shinan-Ui Offshore Wind
Shinan-Ui Offshore Wind is a joint venture between Hanwha Corporation E&C Division, Korea South-East Power Company (KOEN), and SK D&D.

About Hanwha Corporation E&C Division
Hanwha Corporation E&C Division has quickly become a global player by leveraging its extensive experience in construction projects and by applying its new technologies and subject matter expertise across commercial and residential buildings, infrastructure, chemical and power plant, and more. We are the signature construction company of Hanwha Group, the 7th largest corporation in Korea and a Fortune Global 500 company. Hanwha Corporation E&C Division is recognized for its ability to successfully complete large-scale and complex projects in the global market, such as building an entire city; constructing chemical plants in the Middle East and North Africa; and completing various real estate projects in the Americas. Through its recognized capabilities, Hanwha Corporation E&C Division will continue carrying out responsible business practices to contribute to social development in the global construction market.

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About South-East Power Company (KOEN)
KOEN is a power generation company newly started on April 2, 2001, according to the South Korean government policy for restructuring the power generation industry. The company operates five power generation facilities with a total capacity of 10,324 MW, including the Yeongheung Thermal Power Site Division, which has Korea’s largest single unit thermal power facility, and the Samcheonpo and Bundang Thermal Power Site Divisions and the Yeongdong and Yeosu Thermal Power Plants, supplying 10% or more of the total national power stably. KOEN envisions to become a leading green energy company by generating 35% of power with new and renewable energy by 2025. About 2,200 employees of KOEN are committed to move forward to making KOEN a Clean & Smart Energy Leader. With the support of the people of Korea, KOEN will innovate continuously to devote itself to help the country become energy rich.

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About SK D&D
SK D&D Co. Ltd. is Korea’s only comprehensive real estate company with an entire value chain of real estate development, from developing and managing real estate to operating assets. We are further generating value as a comprehensive private energy power developer with businesses in the renewable energy sector, including solar power, wind power and hydrogen fuel cells, and ESS - Energy Storage System. As a ‘spatial’ solution provider, we are now working beyond the real estate sector to build an ecosystem for the happiness of various stakeholders, including our customers, partners, members, and shareholders.

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