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Ørsted’s 1.4GW Incheon Offshore Wind Project South Korea’s Largest Gets a New Partner

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Home » Energy » Wind power » Ørsted’s 1.4GW Incheon Offshore Wind Project South Korea’s Largest Gets a New Partner

POSCO Group has signed a memorandum of understanding (MOU) with global offshore wind developer Ørsted to co-develop the 1.4-gigawatt Incheon Offshore Wind Project. This is the largest offshore wind undertaking in South Korea to date. Though thismay be disputed by the1,125 MW Hanbando fixed-bottom offshore wind farm also being developed in South Korea.

Broad-Scope Collaboration on Infrastructure and Supply Chain

Under the agreement, POSCO will explore collaboration across multiple aspects of the project, including:

  • Supplying high-strength steel for substructures and towers

  • Construction of onshore facilities

  • Engineering, Procurement, Construction, and Installation (EPCI)

  • Operations and maintenance (O&M)

A joint working group will be established to detail cooperation plans for the Incheon project.

POSCO’s Contribution to Korea’s Offshore Wind Industry

POSCO Holdings President Lee Ju-tae stated that the group intends to leverage its extensive offshore wind supply chain expertise to enhance Korea’s industrial competitiveness and accelerate renewable energy deployment.

Ørsted’s Progress on Project Approvals

Ørsted secured the business license for the Incheon Offshore Wind Project in 2023. It is currently conducting environmental impact assessments and designing the wind farm. In addition to the MOU with POSCO, Ørsted recently signed another MOU with Korea South-East Power for joint project development.

Project Scale and Location

Located approximately 70 kilometers off Korea’s west coast, the Incheon project will consist of two wind farms — one with an 800 MW capacity and another with 600 MW — totaling 1.4 GW once operational. It is set to become the nation’s largest offshore wind farm.

Project Factsheet: Ørsted–POSCO Incheon Offshore Wind Project

  • Capacity: 1.4 GW (two wind farms: 800 MW + 600 MW)

  • Location: ~70 km off the coast of Incheon, South Korea

  • Developer: Ørsted (global offshore wind leader)

  • New Partner: POSCO Group (steel supply, construction, EPCI, O&M)

  • Licensing: Business license obtained in 2023

  • Current Status: Environmental assessments and design phase

  • Significance: Largest offshore wind project in South Korea

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