Taean Wind Power, a joint venture between Copenhagen Infrastructure Partners (CIP) and Vena Energy, has signed two power purchase agreements (PPAs) totalling 500 megawatts (MW) for its offshore wind project in South Korea, securing long-term offtake for one of the country’s most significant renewable energy developments.
The agreements include a 300MW PPA with Korea West Power and a 200MW PPA with Gangneung Eco Power, providing a key financial and operational foundation for the Taean offshore wind farm. The project is expected to supply clean electricity to approximately 300,000 households annually.
“This PPA signing represents a major milestone for the Taean offshore wind project and South Korea’s renewable energy journey,” said Kwangjin Cheong, representative director of Taean Wind Power. “By securing long-term agreements… we are not only providing reliable clean electricity but also reinforcing our commitment to building a sustainable energy future together with Korea’s communities and industries.”
Copenhagen Offshore Partners (COP), the exclusive offshore wind development partner to CIP, is co-leading the project’s development on behalf of the joint venture.
Jonathan Spink, chief executive of Taean Wind Power and CEO of COP Korea, described the PPAs as a symbolic step in the country’s energy transition. “We are proud to contribute to Korea’s energy transition, remain committed to delivering reliable and sustainable offshore wind power, and look forward to creating lasting value for the local community,” he said.
Daniel Astbury, global head of offshore wind at Vena Energy, acknowledged government support during the process. “We have witnessed the government’s clear commitment to accelerating the renewable energy transition,” he said, noting the collaborative progress since the fixed-price auction held last year.
CIP’s partner and head of Asia-Pacific, Thomas Wibe Poulsen, called the milestone a reflection of the strength of partnerships and the momentum of South Korea’s offshore wind sector. “It stands as a testament to the power of strong partnerships and our shared commitment to advancing sustainable energy solutions,” he said.
The Taean offshore wind project is positioned to play a central role in South Korea’s renewable energy targets and growing offshore wind industry.
